Acting on behalf of Threadneedle, Cooke & Arkwright has leased 83,000 sq ft on a 1.7 acre site at Reevesland Industrial Estate in Newport, on a 10 year lease to JoJo Maman Bébé, securing 120 jobs in the local area. The move will more than double the company’s occupational space and provide new head office accommodation with expanded warehouse and storage facilities.
Jeremy Symons, director in charge of Industrial at Cooke & Arkwright, said that the property had been vacated in October 2011 but was quickly of interest to a number of parties following completion of refurbishment works.
“The works were undertaken to the building in the Autumn of 2011, after which we experienced a steady stream of interest,” he said. “JoJo Maman Bébé approached us in March 2012 and after involved negotiations we have been able to broker a deal which suits both parties. I am very pleased to complete a transaction of this size in the current market and which demonstrates that business can still flourish with the right approach.”
The baby and maternity retailer, founded by Laura Tenison in Wales in 1993, reported a 20% growth during 2011 due to store openings. The business has been opening between eight and 10 stores per year and now has 50 stores across the British Isles, employing around 440 people. It is also developing its business internationally with trade sales to 54 countries – all supplied from Newport.
Other occupiers at Reevesland Industrial Estate include Owens Road Services, NYK Logistics and Euro Foods. The estate is close to the Southern Distributor Road which provides access to Newport City centre and junction 24 and 28 of the M4 motorway.