Steelite takes lease on Lymedale Cross Business Park Warehouse in Newcastle-under-Lyme

 Apr 2018

Steelite International has leased a 50,620 sq ft industrial warehouse at Lymedale Cross Business Park in Newcastle-under-Lyme.

The Stoke-on-Trent based company is a world-leading manufacturer of award-winning tableware, glassware and cutlery for the hospitality industry.  It has leased Unit 11 – now known as Lymedale 50 – on a ten-year lease at an annual rental of £296,127. The Joint Venture between Rockspring and Caisson which acquired the asset was represented in the transaction by joint property agents Knight Frank and Butters John Bee. Steelite was represented by Harris Lamb.

James Clements, head of Knight Frank’s industrial agency team in the Midlands, said; “We are delighted with this transaction. The previous tenant vacated in September, and almost immediately we had the building under offer. There is very little good quality stock in the region of this size and therefore much pent-up demand. Occupiers have to act fast to secure buildings in the current market.

Lymedale Cross Business Park is an attractive option for industrial and distribution companies, with 300,000 sq ft of industrial, warehouse and office buildings within the strategic location of the M6 corridor between Birmingham and Manchester.

We are currently considering further development options on the estate, and hope to have opportunities for companies coming forward.”

Richard Day, of Butters John Bee, added “This is not only a significant deal for the North Staffordshire region, but we are mindful of the likely further development which is proposed on the Lymedale Cross Business Park, with the potential for a further 30,000 sq ft of industrial and warehouse space and a development of trade counter units”.

-Ends-

Contact for enquiries

Lisa Allsup

Caisson Investment Management

Lisa.Allsup@caisson-im.com

+44 207 280 9600

Research

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