Demand heats up at industrial estate
Carter Towler has successfully let a large industrial unit at Millshaw Industrial Estate, Elland Road to Arctic Hayes, one of the UK’s leading suppliers of heating and plumbing products.
Acting on behalf of the owner of the estate, Schroder Real Estate Investment Trust (‘SREIT’), Carter Towler has agreed a 10 year lease on Unit 9 which is approximately 23,000 sq ft, more than double the size of Artic Hayes previous city site.
Millshaw Industrial Estate is one of Leeds’ most established business parks, it was constructed in the 1990s and purchased by SREIT in 2015.
Karl Dallimore, managing director of Arctic Hayes said: “The location is perfect for us and the continued investment SREIT has made in the business park has ensured the quality of the units is excellent. We are looking to expand our operations significantly, to double our capacity by the end of 2022 in fact, and this new facility will enable us to do that.”
Schroders Capital Real Estate’s Philip Scott added: “It has been a fantastic team effort with everyone – Carter Towler and our joint agents Knight Frank, the estate’s management team at Hornbeam Property Management and JLL Building Services – all pulling together to get the lease and the property just right for Arctic Hayes. I’m sure they’ll flourish at Millshaw.”
Hazel Cooper from Carter Towler, said: “Arctic Hayes has been exceptionally busy over the past few months and is now in need of larger premises. They currently occupy 10,000 sq ft in South Leeds however this move will enable them to considerably increase their capacity. Unit 9 has been extensively refurbished by SREIT, along with several of the other units on the estate, which continues to attract good quality occupiers.”
Knight Frank’s Tom Goode concluded: “This is a popular industrial park because of the fantastic location and the properties being extensively refurbished. It’s been a busy few months with refurbishments and negotiating new lettings with bed manufacturer Harrison Spinks and sustainability company Cenergist as well. We are extremely pleased to have achieved full occupancy now at Millshaw.”