National industrial and commercial property manager, Dunedin has completed the letting of 54,835 sq ft of industrial accommodation at its Carrwood industrial estate in Chesterfield.
The units were acquired by Wolseley UK, the UK’s leading distributor of plumbing and building materials and products, on a five year lease at a rental value of £4.50 per sq ft.
The accommodation forms part of Dunedin’s wider ownership on the Carrwood industrial estate, situated four miles from Chesterfield. The estate is accessed directly from the A61, which provides access to the nearby M1 and wider national motorway network.
Dunedin undertook a significant programme of improvement and refurbishment before bringing it back to the market.
Adam Smith, Dunedin, said: “We are naturally exceedingly pleased to have completed this letting to a nationally significant company like Wolseley.
“On a national scale, the industrial market is seeing high levels of demand and it was imperative for us to ensure that this asset represented an appealing prospect to the occupier community.
“Having secured an interest from Wolseley early in the process, we were able to speak with them throughout the refurbishment to ensure that this asset met their operational requirements while also setting a new benchmark for the wider estate.”
The unit will be used by Wolseley to house three of the companies that form part of Wolseley UK’s infrastructure division, Utility Power Systems, Utility Fibre Systems and Fusion Utilities, which will also base its national sales office from the space.
Previously, the three utilities brands had been located nearby but at separate facilities.
Tom Parker, Wolseley UK, said: “We were able to discuss our requirements with Dunedin throughout the refurbishment process to ensure that this unit met our requirements. This is the first time that we’ve been able to co-locate these brands together and bring them under one roof, so this is a significant letting for us.”
The deal with Wolseley follows a letting of 22,750 sq ft to Chesterfield-based kitchenware manufacturer, David Mason Design on a seven year lease.
Dunedin was advised by Commercial Property Partners, with Wolseley UK advised by CBRE.
Dunedin is one of the largest owners of industrial and commercial property in the UK, with a portfolio of more than 170 industrial estates, offering in excess of 10 million sq ft of space across 130 towns and cities.