Spartan Motor Factors Ltd is the latest tenant to rent a trade counter unit at the recently acquired Chancel Close Industrial Estate in Gloucester.
Unit 3 is 7,104 sq ft in size and benefits from a comprehensive refurbishment including a new roof and recladding. Chancel Close Industrial Estate is situated in a key trade counter location just off the A38 at Eastern Avenue, Gloucester, where other nearby occupiers include Magnet Trade and Halfords.
The deal, which marks a new headline rent for the estate, was brokered by CBRE Bristol on behalf of landlord Telereal Trillium. CBRE is joint agent for the site with Ash & Co.
The new 10-year lease forms part of Spartan Motor Factors’ rapid branch expansion.
“The refurbishment of Units 3 and 5, marks the commencement of a rolling programme of works at Chancel Close Industrial Estate, which is modernising a well-established estate. Together with its excellent location, the units are ideal for a company such as this,” said Philip Cranstone, Director, Industrial & Logistics at CBRE Bristol.
“The client is being rewarded for committing the capital to transform the estate, and we’re confident the remaining unit here will be rented quickly.”
Unit 5, which is currently available, comprises 7,667 sq ft and is suitable for warehouse / industrial occupiers as well as trade counter operators.