Leading firms agree to move in before Grantham site is even completed
Units on Grantham’s newest industrial estate have been snapped up, months before the development is due to be completed.
The deals will bring two major UK businesses to the town and are being hailed as a sign of the strength of the Grantham market.
Autumn Trade Park, in Dysart Road, is due to be completed in autumn this year, but pre-lets have been agreed with Formula One Auto Centres and Toolstation, it was revealed this week.
Formula One Autocentres is one of the largest independent auto centre chains and will rent 4,400 sq ft on a 15-year lease at an annual rent of £37,400.
Toolstation, the DIY supplier, will rent 4,000 sq ft on a 10-year lease at £30,000 a year.
One unit remains to be let on Autumn Trade Park. The deals were arranged by Savills.
The agents are also handling the sales of two key commercial sites in Harlaxton Road, Grantham.
The former AC Williams car showroom near the town centre, opposite the magistrates’ court, is being offered with a guide price of £795,000.
Victor Ktori, head of Savills’ Nottingham office, who is dealing with the sale for Tanvic Tyres, said the site on a sizeable plot had the potential for change of use and was an interesting opportunity for a variety of owner occupiers.
At the other end of Harlaxton Road, near the A1 bridge, an industrial site let to two vehicle rental businesses is being sold as an investment opportunity for a guide price of £650,000.
The current tenants, HRSS and Premier Vehicle Rental, pay a combined £50,000 a year for the 3,773 sq ft site, which includes workshop, offices and extensive parking.
Mr Ktori said: “The property is fully let, making this a strong investment, with the potential for future asset management a development.”
The site is being sold by Hampsons Property.