Lambert Smith Hampton (‘LSH’) acting for Legal & General Property’s (‘LGP’) Industrial Property Investment Fund (IPIF) has let units 1-4 Millbrook Trading Estate, Southampton, to new business Tyre Shack on a new nine year lease.
The letting follows a refurbishment programme of the units and improvements in estate management including new signage and capital investment.
Commenting on the letting, Tim Packer, Assistant Fund Manager of IPIF said: “This letting demonstrates our ability to attract reliable and high-quality tenants to our assets and is an excellent result for the Fund, further strengthening our portfolio in Southampton and the South Coast region.”
Adrian Whitfield, Director at Lambert Smith Hampton explains: “The directors of Tyre Shack have a proven track record in their industry and were attracted to this estate by the excellent main road frontage off the main Western approach road into Southampton city centre. Our client’s flexibility to work with Tyre Shack to meet its operational requirements was key to this transaction.”
JLL acted as joint agent.