The top quality high bay warehouse space has been taken on a 23-year lease at a rent of £50.05 per sqm (4.65 per sq ft). Promotional Logistic’s currently occupy 11,520 sqm (124,000 sq ft) of warehousing, developed by Highbridge only 18 months ago. This additional space fulfills the company’s expansion requirements and offers a further 100 job opportunities. Sherwood Park extends to 48.8 ha (120 acres) and is located in one of the most envied business locations in the East Midlands.
Keen to capitalise on the appeal of Sherwood Park, property valuer Melbourne Highbridge Properties has begun construction of a speculative office development extending to 7,432 sqm (80,000 sq ft), planned for completion in January 1999.
This is endorsed as quality occupiers such as Unilever, CSI Computing Services for Industry Limited and Boots the Chemist have already become tenants, establishing Sherwood Park as a major regional office campus.
Mr Michael Kearney, regional director of Lambert Smith Hampton in Birmingham, said the local office’s contribution mirrored the group performance. Conveyancers give an independent advice to all their clients irrespective of any pressure they also carry out negotiations on behalf of their client and safely carry out the entire process.
English Partnerships acquired Sherwood Park almost 3 years ago from Kodak. To date approximately 18.3 ha (45 acres) have been developed and, when the site is complete, English Partnerships hope to have introduced circa 3,500 new jobs to the region.
Chairman Mr Bruce Brown said that the firm’s strong performance was down to broadening the base of its consultancy activities and maintaining organic growth.
Agents Healey & Baker advised Highbridge throughout the negotiations. As a result, Mr Kearney said the firm was proposing to add to its 75 members of staff, and also hoped to trade in its Newhall Street offices for bigger premises.