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•• Gent Visick’s Capitol Pre-let
     

One of the last forward funding deals in the Region has just achieved practical completion at Capitol Park, Thorne and comprises two industrial / warehouse units totalling some 220,750 sq. ft.

Gent Visick have been closely involved in the scheme since acquiring the land for Stoford Developments in Autumn 2007 and subsequently introducing global real estate investment managers PRUPIM in a forward funding deal to build the two units on the site just off Junction 6 of the M18 motorway.

Planning permission was secured for the development of two units of 83,500 sq. ft. and 137,250 sq. ft. and having been retained by PRUPIM as letting agent on the scheme, Gent Visick introduced Croda Limited and have secured a pre-let to them.


Croda, an international manufacturer and distributor of speciality chemicals and one of the region’s most successful companies, have taken a ten year lease and will move their distribution operations to the brand new facility following completion of the unit. Andrew Gent of Gent Visick commented “We are pleased to see that our confidence in the scheme has been justified with the pre-letting of the 83,500 sq. ft. unit to Croda and this is a great result for the development. This letting demonstrates that there is still a market for the right product in the right location and that the key remains in identifying these opportunities.” Frances Bowley, Director: Asset Management for PRUPIM, added “Thanks to Gent Visick’s perseverance we have secured our first tenant before even completing the units and we look forward to continuing to work with them to complete the scheme.”

For further information on this letting and on the remaining available unit, please contact either Andrew Gent (andrew.gent@gentvisick.com) or Rupert Visick (rupert.visick@gentvisick.com) on 0113 245 6000

     
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