Goold Estates has announced a significant lease renewal and expansion with long-standing tenant, Combat Heating Solutions, at Red Mill Trading Estate in Wednesbury.
The agreement sees Combat extend its leases on Units 17 and 20, which it has occupied since 2016, and take a new 10-year lease across two additional units, increasing its total on-site footprint to more than 42,000 sq ft.
Combat was one of the original occupiers at the estate, shortly after Goold Estates acquired the six-acre former food factory site in 2015 and completed a comprehensive refurbishment programme.
Following continued business growth, Combat approached Goold Estates last year seeking additional space to consolidate its operations at Red Mill and relocate from separate premises in Northampton.
In response, Goold Estates refurbished Units 2 and 3, providing a further 17,000 sq ft of accommodation, complete with a new roof, internal redecoration, and new LED lighting throughout.
Anthony Williams, property director at Goold Estates, said: “Combat is renowned for its industrial space heaters, so we were thrilled to attract them as tenants when they first relocated to Red Mill a decade ago.
“We provided a newly refurbished unit to meet their requirements, including two-storey offices and a self-contained yard, and we are delighted to see them extend their lease for a further 10 years.
“By also expanding their presence at Red Mill with a further 17,000 sq ft of refurbished space, Combat has reinforced its commitment to both the estate and the local area.”
Ian Cooper, operations director at Combat Heating Solutions, added: “We needed additional manufacturing and storage space when we decided to expand the operation at Wednesbury. Discussions with Goold Estates resulted in a number of options and we were delighted when they were able to meet our requirements with a solution on the same trading estate effectively keeping the whole operation in one place.
“The expansion project has been a rewarding challenge helped in no small way by Goold’s ability to assist when needed and be helpful and constructive in discussions and plans. For Combat this cements solid base foundations and strengthens our position enabling us to move forward with new product lines and new markets.”
Gowling WLG acted for Goold Estates on the original letting, the new letting of Units 2 and 3, and the lease renewal.
