CPP secures deal at Old Mill Lane Industrial Estate on behalf of Strawsons Property
LEW Electrical Distributors has expanded its network of branches having signed up to a 4,000 sq ft warehouse at Old Mill Lane, Mansfield, in a deal brokered by property consultancy agency Commercial Property Partners LLP (CPP).
The leading electrical wholesaler’s new premises is one of 21 speculatively built units on the park, which has been developed by leading property development and investment group,Strawsons Property.
This latest property acquisition sees LEW Electrical Distributors add to its existing nine-strong branches with sites strategically positioned across Yorkshire, Lincolnshire and Lancashire.
A spokesperson for the company said that Old Mill Lane - located close to Mansfield, Nottingham, Worksop and Newark, with easy access to both the M1 and the A1 - presented the ideal solution to the business once it identified that the company’s next phase of expansion would be to open a Mansfield branch.
Other occupiers in the immediate vicinity include Royal Mail, Volvo and FCC Wholesale.
Andy Johnson, Managing Director from LEW, which has signed a 5 year-lease-deal on the property, said: “Old Mill Lane is centrally located with excellent access to major transport routes and some of the region’s major towns and cities, making it an excellent option for us during this time of rapid growth and expansion.”
Stuart Waite, Partner at CPP, has said: “It has taken less than 12 months to secure 17 tenants on this speculative development of 21 units, which is testament to the excellent location of Old Mill Lane and the accessibility that it offers to many tenants spanning a whole host of sectors.
“The take up demonstrates the strong level of latent demand which this scheme has helped to satisfy, endorsing Strawsons Property’s decision to press ahead and speculatively develop these new units.”
Adam Jones of Strawsons Property, said: “Our investment in this project may have been seen as a leap of faith 18 months ago when we started construction but demand at Old Mill Lane has been really strong.”
“We are really pleased to welcome LEW to Old Mill Lane and the many other business who have been attracted to the development. We now look forward to securing planning consent for a number of other exciting developments in and around Old Mill Lane over the next 12 months.”