Garness Jones has completed the letting of two large industrial units on an East Yorkshire site which was also acquired by our team for the owner.
The Riverview Road site in Beverley was initially sold by Garness Jones having become surplus to requirements of the pharmaceutical company which had used the entire site for many years.
We were then instructed to market the storage, distribution, production facilities and offices by the new owner, ready for when the pharmaceutical company ended its contractual obligations and left the site earlier this year.
Now, two new businesses have moved into the premises, with the configuration of buildings allowing for a ‘natural split’ of the site.
A national retailer has taken almost 15,000 sq ft of warehousing space, whilst a locally-based business, which also operates within the pharmaceutical sector, has taken more than 22,000 sq ft of premises which offer high levels of fittings and cleanliness, ideal for its specific work.
Ten-year leases agreed by new tenants
Chris Hyam, senior surveyor at Garness Jones, said: “We’re delighted to have secured these excellent tenants for our client at Riverview Road as they are established businesses who have each committed to long term leases.
“When the site was purchased last year and we were reinstructed it was a case of finding suitable tenants for the buildings, which were quite unique given their long-term use by a national pharmaceutical company.
“The site could have been let as a whole to one business, but the nature of the plot meant there was a natural spilt for us to be able to market also to two potential tenants.
“The deals we have struck now will ensure our client has an excellent return on his investment and have provided first-class premises for his tenants.
“For the business which has links to the pharmaceutical industry, they have benefitted from moving into facilities which are fitted out with suspended ceilings, hygiene panel walls and LED lighting panels, providing the ideal, high quality and clean environment not offered by other units of similar size.
“For the national retailer, they are now able to store products at a site with excellent road links to Hull, York, Humber Bridge and M62 motorway networks.”
Garness Jones will also be managing the premises on behalf of the client, dealing with rent collection and landlord and tenants matters.
