Specialist supply chain and workspace solutions business Paragon Customer Communications has leased 110,000 sq ft at Greenland Industrial & Trade Park Sheffield.
The scheme, which has been developed on the site of a former B&Q store and car park, has been funded by Barwood Capital’s Regional Property Growth Fund IV and delivered by Tungsten Properties. Paragon has taken units 1A and 1B on a five-year term at a rent of £7.25 sq ft.
Adam Smith, asset management director at Barwood Capital, said: “We are delighted that Paragon has chosen our scheme as its new home. Our conviction that a redundant retail warehouse could be successfully repurposed has been proven. It strikes a positive note to see this building and its surrounding land given a new lease of life – a theme that will no doubt develop across the country as investors refine their ESG requirements.’’
David Mole, development director at Tungsten Properties, added: “With a further 10% of the scheme now under offer to a national occupier, the positive letting story continues and just four months after reaching practical completion. Four trade counter units remain available, and based on the interest received to date, we are expecting to see those let quickly.”
GV&Co and Colliers are joint agents for the scheme.
