Barrett Steel expands in Montrose

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Acting on behalf of head tenant Hunting Oilfield Services, Ryden has sub-let a 2,795 sq m (30,067 sq ft) modern industrial unit at Broomfield Industrial Estate in Montrose to Barrett Steel.

The firm, which is the UK’s largest independent steel stockholder, is expanding its operations and has taken the space at a rent of £60,500 per annum for the next two years.

Broomfield is one of Montrose’s main industrial estates and additional occupiers include Sundolitt, Norsea Group, National Oilwell Varco and Howden Joinery.

Matthew Moggach, who secured the deal, commented: “We had several parties interested in this substantial industrial unit reinforcing that, despite the difficult economic climate, there is still activity in the North and that the right product offered at the right price will continue to secure good quality tenants”.

Barrett Steel was advised by Sanderson Weatherall in the transaction.