A leading UK car retailer has signed a 10-year lease on a Birmingham industrial unit, reinforcing demand for stock for good quality, mid-box premises in the West Midlands.
Acting on behalf of DTZ Investors, Harris Lamb secured Lookers Motor Group as the new occupier of Unit 6, Holford Industrial Estate Park, Holford Way, having agreed terms on the 20,595sq ft warehouse.
Neil Slade, of Harris Lamb’s Agency team, said: “With continuing high levels of demand for well-appointed industrial property in the region, the Holford Industrial Park opportunity was met with a lot of interest given the scarcity of comparable property in the region.
“The landlords had invested in a full refurbishment at the property, in-keeping with the current trend to bring existing vacant stock to an as-new standard to attract new occupiers, and the park’s central location just three miles from Junction 6 of the M6 makes it a prime logistics and distribution hub,” he said.
The unit is expected to be used by the group to prepare vehicles prior to distribution to the Lookers group’s UK dealership network.
Neil added: “Demand for similar good quality industrial stock throughout the Greater Birmingham area is not abating irrespective of the political climate and this is another example of an occupier acting quickly to secure these increasingly rare units.
The 10-year lease includes a five-year tenant break option.
Cushman & Wakefield acted as joint agents on the site.