Latest Castlewood letting brings another major occupier to the site
After a stunning 2012 which saw the successful letting of a new national distribution centre to the Co-op of 475,000ft², together with further deals for expanding local occupiers Midland Aerospace at 40,000ft² and Meridian Lightweight Technologies at 60,000ft², a further deal has now been completed with renowned Derby based train maker Bombardier taking on a building of 25,000ft² on the site.
This latest deal will see a relocation by Bombardier in Mansfield to Castlewood with the occupier drawn to the location due to its prime road links and the high quality of space available.
By bringing a further household name to the park, its profile will no doubt rise still further and with over 60 acres of land still available for new build units there is still plenty of supply to keep up with demand.
Sole agent for the site Tim Gilbertson of FHP who secured the deal commented:
“The attraction of a major occupier such as Bombardier to the site further enhances Castlewood’s burgeoning reputation.
2012 was a standout year for the park with two local occupiers taking over 100,000ft² together with a further letting to the Co-op of nearly half a million sq ft.
The latest deal whilst somewhat smaller at 25,000ft² is no less significant and it sees a major local occupier take space on the park in direct response to the prime location offered, the quality of space and the growing reputation that the site commands.
Various discussions continue with other potential occupiers for the site and with over 60 acres of land left for development we can still accommodate requirements from as little as 20,000ft² on either a purchase or rental basis.
I would warmly welcome any further interest from occupiers already in the area or indeed those looking to relocate and take advantage of the location which cannot be matched in the region, the site literally adjoining the M1 at Junction 28 and therefore providing terrific east west links as well via the A38 too.”
Development Manager of Clowes Developments, James Richards, Commented:
“This is another significant deal for Castlewood, despite the wider difficult market conditions. We are particularly delighted as we have concluded this deal on what was the only remaining unit on the site.
We are pleased that this deal signifies a new chapter in Castlewood’s recent history and we are now considering our options as to how to bring new stock into the market. The addition of Bombardier to the mix of occupiers on site is an example of yet another UK manufacturer who has chosen Castlewood as a base for expanding their business. Bombardier, coupled with Midland Aerospace and Meridian Lightweight Technologies, means that we now have overall 125,000 sq ft of space afforded to new manufacturing within the automotive and aerospace industries.”
Simon Griffiths, Commercial Property Solicitor at Flint Bishop in Derby dealt with the legal necessities for the deal and commented:
“We negotiated and drafted the lease and licence for alterations to the existing Clowes building and helped bring the deal to a successful conclusion. This is another important success for the Castlewood site and highlights Clowes’ skill in developing property solutions that are tailored to the needs of local industry.”
The relocation of Bombardier from older stock in Mansfield to their new base at Castlewood will improve their efficiency and customer service and General Manager for BTRos, Stephen Hutt, commented:
“Bombardier Electronics Division view the move to the new facility as a step forward in the growth of the business. The new building presents a major opportunity to further develop our manufacturing and engineering capabilities in the supply of high-tech electronics solutions to the rail industry and beyond. The state of the art facility is reflective of our business and the prime location will enhance our ability to support customers. We look forward to taking ownership upon completion of the relocation from our existing premises.”
For further information on the site please contact James Richards at Clowes Developments (UK) Limited on 01335 360353.