National bed retailer expands again at trading estate
The Granada Trading Estate in Oldbury is now fully let following three recent lettings.
Specialist bed retailer Dreams has leased the 38,811 sq ft Unit 3/3A and the 35,273 sq ft Unit 2 at Granada on five-year leases while Jetman has leased the 7,392 sq ft Unit 8, with the later achieving headline rents of £4.75 per sq ft.
In each transaction, the landlord was represented by property consultancies Knight Frank and Cosnett Price.
Dreams also recently renewed its lease on the 13,266 sq ft Units 6 and 7 for a further five years, and leased the 35,273 sq ft Units 2A-2D warehouse.
The latest lettings bring Dreams’ occupancy on the 320,143 sq ft Granada Trading Estate to circa 195,000 sq ft. In 2006, it opened an 84,000 sq ft factory on the site.
Established in 1985, Dreams employs 1,900 people across the UK, and sells 10,000 mattresses, bases and headboards per week to customers nationwide through its store network of over 195 sites and online.
Its Oldbury factory manufactures over 200,000 mattresses a year and over 160,000 beds.
Edward Kennerley, associate at Knight Frank’s industrial and logistics division in Birmingham, said: “These lettings demonstrate the strength of the industrial & logistics market in the West Midlands and the desire for units in the strategically-important Black Country.
Alan Price of Cosnett Price added: “We received a lot of interest for the remaining units due to their excellent location close to Junction 2 of the M5, and the shortage of available storage and distribution space in the area.”