A Birmingham-based property company has persuaded three tenants to sign on again at an industrial estate in Staffordshire - and the biggest deal comes two years before the company’s current lease was due to expire.
CT Paper Sales, which is one of the country’s largest independent paper merchants and convertors, has taken a new five-year letting, for 41,665 sq ft of space, at Landywood Enterprise Park, in Great Wyrley.
Process engineering specialist GSR Systems has expanded from 5,000 sq ft acquired 12 months ago and has now taken a new five-year lease for its 11,545 sq ft, where it offers sophisticated 3D modelling solutions for clients in the food, drink and manufacturing sectors.
The hat-trick of of deals was completed when Chassis Development Services agreed a new three-year lease for 9,300 sq ft of space. The family-owned business has traded successfully for more than 30 years, converting commercial vehicles.
Negotiations for all three deals were carried out by Andrew Hartley, a surveyor with Cannock-based niche agency Andrew Dixon & Co, who are Nurton‘s joint agents at Landywood, with DTZ.
“It will be surprising to many people that, even in these very competitive times, none of the three companies considered moving to another location. They were happy to stay, and we were able to agree leases on terms which both sides found acceptable.” he said.