Two automotive manufacturers and an insulation specialist are the latest to sign up to newly refurbished units at LGIM Real Assets’ (L&G) Follingsby Park in Gateshead.
Newcastle-based HTA Real Estate secured the lettings to Argus Fluid Handling Systems, Max Energy & Comau for L&G, on behalf of its UK Property Fund.
Max Energy, which was established in 2015, has chosen Follingsby Park as its new North East base as part of its expansion programme. This will be the firm’s sixth branch, adding to its other locations in Ashford, Bridgwater, Leicester, Leeds and Warrington.
The firm, which offers insulation expertise across a range of sectors including new build housing, domestic construction, social housing and landlords has signed up to a 5 year lease on a 5,574sqft unit.
Argus Fluid Handling System, which is part of Hiflex Europe, has signed up to a six year lease on a 10,000sqft unit. The firm provides high quality, cost effective design and production of hose and tube assemblies and the new unit will provide additional warehousing space for expansion.
A second automotive manufacturer Comau recently announced it has signed a 10 year lease on a 13,183sqft unit. The company, which counts Nissan as one of its major clients, is relocating from Spire Road in Washington in a move that will triple its floor space and create up to 60 new jobs.
Matt Jarvis, fund manager of the Legal & General UK Property Fund, said: “Following the successful completion of a number of asset management initiatives at Follingsby Park, we have seen significant occupier interest in the estate, resulting in a number of lettings with more in the pipeline.”
Nick Atkinson, director at HTA Real Estate added: “These latest lettings have been well timed to tie in with the completion of the comprehensive refurbishments undertaken on all three units. The continuing high level of take up at Follinsgby Park is a reflection of the quality of the units available thanks to L&G’s continued investment drive, which has made significant improvements across the business park.”
He continued: “We are delighted to welcome another Nissan supplier and hope to continue to capitalise on the site’s close proximity to the car manufacturing plant.”
Gerry Bowden, supply chain manager at Comau commented: “The move to our new premises at Follingsby Park signifies a major expansion of our North East base. The new larger facility will allow us to continue to improve our manufacturing processes and deliver a first class service to clients as one of the world’s leading manufacturers of automation systems.”
Follingsby Park comprises over 1.1m sqft of industrial floor space and has attracted a host of new occupiers over the past 18 months including Panther Logistics, Ashstead Plant Hire, DFS and Shred-It. Cushman & Wakefield are joint letting agents with HTA Real Estate.