Vail Williams: Demand for high-quality industrial stock across Surrey continues to grow
Property consultancy Vail Williams acted for clients on the disposal and subsequent letting of a block of Units 1-4 Trade City on Brooklands Business Park, Surrey – one of the largest industrial hubs in the South West quadrant of Greater London.
Demand for high-quality stock across Surrey continues to grow, as evidenced by the quick letting at record rents of modern industrial units on the business park close to the M25.
Event management company Eventist Group, which holds a portfolio of hospitality brands, instructed Vail Williams to dispose of the block and immediately leased back Units 3-4 as its corporate HQ. The quoting sale price was undisclosed.
New freeholder, London-based investment group Fishmour, subsequently appointed Vail Williams to let the remaining two units – which was achieved in just eight weeks, at an average rent of £18 per sq ft.
Unit 1 was acquired by medical equipment supplier Lawmed, of Walton on Thames, with Unit 2 taken by independent skincare product distributor Dermapure relocating on the estate, both on long leases.
Vail Williams Surveyor Elliot McNish, based in the Woking office, acted for both Eventist Group on the sale and leaseback and Fishmour LLP on the leasehold deals. Allsop was joint investment agent for the sale and leaseback.
He said: “I was pleased to quickly conclude these two lettings, to local companies, at record rents of £18 psf – approaching office levels – when the average on the park is around £16 psf.
“It also illustrates the strong demand for quality industrial accommodation across the region which continues to outstrip supply due to an acute shortage of capacity."
Other occupiers include Amazon, Hermes and Ocado, as well as Selco, Screwfix, Porsche, TW White & Sons and Tesla.
About Vail Williams
Vail Williams acts for business park freeholder Mercedes Benz on the vast majority of individual unit transactions.
Vail Williams’ full-service property advice includes property valuation, planning and lease advice, investment and development expertise, property asset management and occupier consultancy.
