Tungsten Properties, advised jointly by Savills and Harwin Property Consultants, has agreed a pre-let of three units at Tungsten Park in Witham, Essex to OMG How Cheap Limited.
The online stationery retailer has agreed to a new 10-year lease for Units 1A, 1B and 2, which combined total 45,000 sq ft (4,180 sq m) of brand new industrial space. OMG How Cheap is set to take occupation in mid-2021.
This deal follows Tungsten’s purchase of the site last year, alongside development funding partner Fortwell Capital.
Phil Dennis, director in the business space agency team at Savills Chelmsford, comments: “The letting of all three units at Tungsten Park to OMG demonstrates the strength of the industrial market, despite the ongoing challenges of Covid-19. This latest deal is testament to the strength of Witham as an industrial and logistics location, due to its excellent access to the A12/M25 and local labour pool.”
Justin McVeigh, associate development director at Tungsten Properties, adds: “OMG are one of the success stories of 2020 and we are thrilled to have them on board at Witham. The 26 week build programme starts on the 11th January and our next milestone will be to deliver the buildings in time to provide OMG occupation prior to their busy seasonal period in 2021.”
David Field, managing director of OMG How Cheap Limited, says: “This is an exciting time for the business which has seen phenomenal growth over the past 10 years and we are delighted to have secured new premises at Tungsten Park in Witham. The move to Witham forms part of our plans for the next 10 years which will see turnover treble and the opportunity to generate further employment locally.”