EnvironCom has taken Threadneedle Property Investments’ 157,000 sq ft Scope warehouse on the Spittlegate Industrial Estate to the south of Grantham.
The former Corus steel fabrication warehouse has been let on a ten-year lease at a rent equivalent to £3.80 per sq ft.
James Keeton of King Sturge said: “The Threadneedle deal is the second largest shed deal in Grantham within the last six months, the other being the letting of 334,000 sq ft to book publisher and distributor Random House Group. With a lack of available large scale buildings at the prime East Midlands locations, we have subsequently seen a continuing emergence of secondary locations able to offer occupiers cost savings while retaining good strategic transport links.
“In the current uncertain climate, combined with a lack of development within the region, we expect the popularity of these locations to continue where they are able to offer existing product.”
King Sturge advised.