Tungsten Properties, one of the UK’s leading mid-box industrial and warehouse developers, has let Unit 14 at Lime Kilns Business Park in Hinckley, Leicestershire to Completely Motoring Group, for its new head office and motorcycle distribution centre.
Unit 14 totals 37,650 sq ft and is part of a two-unit new development which Tungsten Properties has built. Hinckley is within a prime logistics location just two miles from junction 1, M69. Being situated on the A5, it provides a strategic link to junction10, M42 (Tamworth) and junction 18, M1 (DIRFT/Crick).
Completely Motoring Group is a Gloucestershire-based company which specialises in premium used motor vehicles and motorcycles. The building is to be comprehensively fitted out and more than 20 new group staff will be employed once government lockdown restrictions have been lifted.
Robert Ayland, group managing director, Completely Motoring, said: “This is a significant expansion for the group and with plans to hold over 1,000 premium used superbikes in stock it will cement our logistical capability across UK. Recent times have shown that consumers demand efficient delivery of the specialist motorbikes that we stock. Expanding into this central location will allow us to exceed our customers’ expectations while reducing customer lead times and increasing capacity.”
Jenny Clarke, development surveyor, Tungsten Properties said: “As a growing company, it’s great that Completely Motoring has their new space to match their impressive expansion plans. Hinckley continues to be an attractive location to such businesses due to being well-connected to the road network and in a strong employment area. Our second unit, Unit 13, which totals 27,030 sq ft, has seen good interest from other occupiers looking for brand new space.”
Ben Sawbridge, Urban Logistics REIT, which funded the development added: “It is brilliant for this speculative development to be let so soon after reaching practical completion. Amidst the uncertainty of Brexit and Covid-19, it demonstrates the resilience of the Midlands’ logistics market. I look forward to seeing Completely Motoring flourish in their new home and for the final unit being let soon.”
The terms of the deal are a 10-year lease at a rent of £6.50 per sq ft.
Andrew & Ashwell and M1 Agency acted on behalf of Tungsten Properties.