UK multi-let industrial property company Sandyford Properties has sealed three leasing deals with occupiers at assets in north Staffordshire.
At City Park Trading Estate in Fenton, trade kitchen supplier Howdens has signed a 10-year reversionary lease on a 16,132 sq ft unit, committing it to the site until 2038.
At Festival Trade Park in Hanley (pictured), Sandyford has extended its ownership and acquired a 6,785 sq ft unit from the occupier Xtrutech in a sale and leaseback transaction. Xtrutech has agreed a 10-year lease at a rent of £7.75/sq ft.
And at Mount Industrial Estate in Stone, Sandyford has agreed a 15-year lease at a rent of £11/sq ft with Kids Planet, which recently acquired the Giggles & Wiggles children’s nursery brand, which is a tenant at the park.
Paul Brindley, managing director of Sandyford Properties, said: “These three transactions show that, despite the economic headwinds, the multi-let industrial market remains robust in the Stoke area because of the depth and variety of occupier demand.”
