Clifton & Burton Group acquired the building last August from a private Scottish based investment fund with the intention of occupying it themselves when their existing lease expires. However, as this was not for some time, they immediately reinstructed Barker Storey Matthews, who negotiated the initial sale of the property, to let the building on their behalf on a short to medium term basis.
Alan Matthews Director at Barker Storey Matthews commented, "We received an excellent level of interest in the building and after having agreed terms with an occupier last October, we were disappointed when they subsequently changed their minds and decided not to proceed. We immediately remarketed the building and very quickly managed to agree terms with HSS in the early part of this year".
Ben Burton of Clifton & Burton Group added, "We are delighted at having let the building which has not only generated a positive rental stream but it has also taken away the empty rates liability until such time as we are ready to occupy ourselves. We are absolutely delighted with the result".
HSS Hire Group will be using the building to service their depots in the Midlands and Eastern Region and were advised by 3PL Real Estate.