Logicor, a leading owner and manager of logistics real estate in Europe, has let Unit 2, Swan Road in Peterlee, UK to Innerglass Limited. Naylors Gavin Black and Cushman & Wakefield acted on behalf of Logicor as joint letting agents.
Innerglass is one of the North East’s largest suppliers of no-food consumables to the UK Hospitality and catering sectors. Due to its continuing growth, Innerglass has taken the refurbished 72,980 sq ft warehouse / production facility on a new lease to provide space for their expansion plans.
Located in Peterlee, UK within the South West Industrial Estate, the modern high-bay Unit 2, Swan Road has recently benefitted from a repositioning programme, including full roof refurbishment, new rooflights and LED lighting system, and re-coating the cladding. The office space was also fully refurbished whilst the exterior green space has also been landscaped and reconfigured. These enhancements have resulted in significantly improved EPC rating.
Chris Donabie, Partner at Naylors Gavin Black, said: “The market remains extremely compromised in terms of ready supply of units of this quality and size. We are delighted to have helped conclude this letting to Innerglass following a comprehensive refurbishment.”
Richard Phillips, Logicor’s UK Portfolio Director, comments: “Unit 2, Swan Road is centrally located in the North East in a popular industrial area. We saw high interest from a number of operators for this fully refurbished space. We are delighted to welcome Innerglass to our UK portfolio and look forward to working with them as they continue to grow.”
Stephen Hoey, CEO of Innerglass Limited, says: “We are a family company from the North East, and our business continues to grow, resulting in us needing quality warehousing space, and Logicor provide us with the ideal facility to meet our needs for the next few years.”