Trade City 77% let after flurry of deals in Frimley

13 September 2016

Aviva Investors, advised jointly by Savills, Wadham & Isherwood and Cushman & Wakefield, has let an industrial warehouse unit at Trade City in Frimley to Corteq Systems Ltd.

The company, which specialises in the production of critical electric motors used in the oil and gas industry, has agreed to a new 10-year lease for space totalling 5,670 sq ft (527 sq m) and will occupy Unit One. Coreteq will pay an annual rent of £63,787, equating to £11.25 per sq ft (£121 per sq m).

This deal follows a flurry of recent lettings to occupiers, including Drain Services, Miss Awesome and Connect IT, resulting in 77% of the speculatively developed scheme now let in the past 12 months. Three units ranging from 3,366 sq ft (313 sq m) to 9,617 sq ft (893 sq m) still remain available at a quoting rent of £11.25 per sq ft (£121 per sq m).

Bonnie Minshull, director in the industrial business space team at Savills, comments: “The speed in which we have managed to let these units, between May and August of this year, is a testament to the strength of the scheme and we are continuing to receive significant interest from potential new occupiers for the remaining space.”

Stephen Parry-Jones, asset manager at Aviva Investors, adds: “At Trade City we aim to offer premium warehouse accommodation in an already established industrial location that boasts good links to London and the surrounding areas.”

Coreteq Systems Ltd was unrepresented.

 
 

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Bonnie Minshull

Bonnie Minshull

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