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Castlewood welcomes Meridian Lightweight Technologies as their 60,000ft² new build facility is handed over by Clowes Developments

wantspacegotspace.co.uk - Castlewood welcomes Meridian Lightweight Technologies as their 60,000ft² new build facility is handed over by Clowes DevelopmentsIn a year when Castlewood has already seen the completion and hand over of a 500,000ft² unit to the Co-op and the letting of a 40,000ft² unit to local occupiers Midland Aerospace, this final deal of the year which has seen a 60,000ft² build to suit unit constructed for local occupiers Meridian Lightweight Technologies has now been completed and keys have been handed over.  

Delivered on time and on budget this is a significant deal which sees one of only a handful of design and build transactions in the region this year complete a highly successful year for the site which sits just off Junction 28 of the M1 at its intersection with the A38.

Whilst Clowes should be applauded for their ability to deliver product on time and on budget the key significance of this building is that it sees a local occupier relocate to the site and take on brand new bespoke space, constructed to their own ‘perfect’ specification after reaching the conclusion, as seems to be a likely scenario for many requirements currently in the market, that stock levels are poor and accommodation is limited.  To make a move worthwhile a design and build on Castlewood for any occupier around Junction 28 must be the ideal solution.

The deal was agreed by Tim Gilbertson of FHP acting on behalf of Clowes who continue to market the remaining 80 acres of the site and offer the ability for bespoke solutions to be provided for occupiers from as little as 20,000ft² upwards.  

Tim Gilbertson commented:

“In a year when the property market has struggled as a whole in line with the economy in general, this deal has been fantastic news for our clients, the occupier and indeed the market in general.

Whilst Castlewood has always set out to serve both the national and local markets, the deal with the Co-op has seen a new unit of nearly 500,000ft² constructed earlier in the year to prove our faith in our ability to attract national occupiers, in its own way this deal is equally significant.

In testing economic times to have the ability to attract a substantial local company who are confident enough in not only their own order book but also the quality of the site and premises to agree a 15 year lease is testament to the superb opportunity that we have here.

Posted by The Editor (wantspacegotspace) on 4th December 2012

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