SEGRO plc (‘SEGRO’) has announced that it has secured a long term letting for a 48,000 sq ft unit at Navigation Park, Enfield to Caesarstone (UK) Ltd, a leading global company for quartz surfaces used mainly as countertops, of excellent quality, inspirational designs and strong service, marketed under the premium brand Caesarstone®.
Navigation Park is the first certified ‘carbon neutral’ development in Greater London, enabling the building to produce more energy than it uses. The development comprises of three speculative units which reached practical completion in June of this year. Unit 1 was let off plan to Camden Town Brewery in April.
Alan Holland, Business Unit Director for Greater London, SEGRO said:
“We’re delighted to welcome Caesarstone to our rich mix of customers who are using SEGRO units to design, develop and distribute a variety of products and services. Caesarstone is a leading global company traded on Nasdaq. With Caesarstone’s decision to directly serve the U.K. market, it chose to join Navigation Park which is great news for SEGRO and the local community as it will create a number of new jobs. An advantage for Caesarstone of being based at Navigation Park is its prime location and direct access to the M25/North Circular, making it the ideal location from which to distribute its goods.”
Amir Reske, Managing Director, Caesarstone UK, said:
“Navigation Park is an ideal location for us. After more than a decade of our products being sold successfully in the UK, and a continued growth in market demand from our UK customers, we have decided to invest in this market and directly bring our innovative and quality countertops to our customers in the UK. We were looking for a storage and distribution unit for our unique and leading products and it needed to be situated near the motorway network in order to best service and deliver to our customers. The carbon neutral rating is also an added bonus, allowing us to operate without harming the environment, which is very important to us. We are looking forward to moving into the unit and commencing serving the UK market, directly, starting in January 2017.”
WeUnderstandProperty.com acted for Caesarstone in this deal, with Glenny LLP acting for SEGRO.