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The heating, ventilation and air conditioning company, the Vaillant Group, has taken over a 60,000 square foot warehouse at Castlewood Business Park.
Acting on behalf of Meridian Lightweight Technologies, M1 Agency negotiated the sublease of the premises to Vaillant Group, represented by Savills.
Toby Wilson of M1 Agency said: “Due to the competitive interest, reflecting the current demand for premier warehouse space in the East Midlands, we are delighted to have agreed the terms and lease to Vaillant Group . This ensures a high quality tenant, while allowing Meridian Lightweight Technologies to mitigate its current rental obligations. Overall a good result.
“Occupant demand in the region remains robust and we do not anticipate a slowdown in the near term. Inventory sourcing remains a frustration, but the commitment to speculative development in the region, for which we are already securing pre-let interest, will help ease the imbalance as we approach 2022 and beyond. “
Jessica Landon of Meridian Lightweight Technologies said: “As part of a period of corporate restructuring, we are delighted that M1 Agency was able to secure a sublease for us shortly after being appointed and we welcome Vaillant Group in the building. . Not only was the speed of this deal great news for Meridian and the new incoming sub-tenant, the professionalism of M1 Agency demonstrated throughout this deal was second to none.
George Unwin, director of Savills London who acted for Vaillant, said: Great Britain. Savills looks forward to continuing to work with Vaillant Group – building on this successful acquisition to maintain and expand its product service offering and the training of the engineers who build and install them.