Acting on behalf of landlord Threadneedle, Cooke & Arkwright, has secured the letting of 173,243 sq ft to Owens Group, on a long term lease of 10 years. The new lease at Reevesland Industrial Estate Newport sees Owens Group expand into the former JoJo Maman Bébé unit of 83,317 sq ft to consolidate their operation as single occupier across the whole site.
Asset Manager for Theadneedle Peter Ciezak commented that ‘We were very pleased to have Owens Group expand across the estate. We value our relationship with our tenants so are very excited that we’ve been able to offer them additional space in order to grow their business. We wish them all the best on this new move and are delighted to have facilitated their business expansion.’
Ben Bolton, Director of Business Space at Cooke & Arkwright, says ‘We are delighted to have secured Owens Group on site long term, the opportunity was timely to facilitate the companies growth plans and realise the efficiencies that operating the site soley will afford them.’
Owens Group Managing Director Ian Owen said, “We are thrilled to embark on this exciting new chapter at Reevesland Industrial Estate. This strategic move not only emphasises our commitment to growth, but also reinforces our dedication to efficiency and consolidation. We are confident that the expansion into the former JoJo Maman Bébé unit will enable us to further enhance our operations and continue providing exceptional services to our clients. We’d like to thank all parties involved for their assistance in making this endeavor possible.”
The deal has been recognised by CoStar as the top deal of Q3. The CoStar Awards Quarterly Deals winners are determined by the top deals executed every quarter, based on price and square footage. We would like to congratulate the Industrial Agency team on this transaction and wish Owens Group the best on their move to Reevesland Industrial Estate.