Tungsten Properties, one of the UK’s leading mid-box industrial and warehouse developers, has let unit 13 at Lime Kilns Business Park in Hinckley, Leicestershire, funded by Urban Logistics REIT, to Northern Building Plastics, a leading supplier of high-quality uPVC plastics and building products to the trade.
Northern Building Plastics, which is headquartered in Leeds and also has a depot in Bolton, will use its new unit for a trade counter and the storage and distribution of uPVC plastics and building products. They supply roofline, drainage, windows, doors, insulation, cladding, composite decking, sealants and consumables. The opening is part of its strategy to expand its depot network and further enhance its next day delivery service.
Unit 13 totals 27,030 sq ft and is part of a two-unit new development which Tungsten Properties has recently constructed.
The news follows Completely Motoring Group taking unit 14 in February for its new head office and motorcycle distribution centre.
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 junction 10, M42 (Tamworth) and junction 18, M1 (DIRFT/Crick).
Jenny Clarke, development surveyor, Tungsten Properties said: “To have completed and fully let both these buildings is great news for the local area to create jobs and provide these companies with new space to expand. Northern Building Plastics has a clear growth strategy and we are pleased to be able to support this to provide their next depot location at Lime Kilns. We are sure they will thrive to provide their many products to surrounding building industry.”
Judah Wilson, chief executive officer, Northern Building Plastics said: “Hinckley is a fantastic location for our latest depot, ideally located with excellent access to road networks. It will provide local customers with easy access to a huge range of stock at our trade counter and enables us to significantly increase our nationwide next day delivery service. The depot will be open in October 2021 and when fully operational, will create more than 40 new jobs across a range of roles including drivers, warehousing and sales.”
The terms of the deal are a 10-year lease at a rent of £6.75 per sq ft.
Andrew & Ashwell and M1 acted on behalf of Tungsten Properties.