BROMWICH HARDY SECURE PRE-LET AND FUNDING DEAL ON 75,000 SQ FT WAREHOUSE
An international luxury flooring firm is expanding in Coventry after agreeing a deal on a major new unit in the city.
Amtico, which is based in Kingfield Road, has agreed a pre-let deal on a 75,350 sq ft property at C75 – a seven-acre site at Pilot Business Park, close to Coventry Airport – which is joint venture development between M&G Real Estate and Chancerygate.
David Penn, a partner at Bromwich Hardy, advised on the deal which keeps dozens of jobs in the city.
He said: “Pilot Business Park has been a huge success and is already having a positive impact on the regional economy.
“To attract a company of such a pedigree on a local, regional, national and international in Amtico is great news and it’s a very positive for the city that the firm is choosing to grow here.”
David has been involved in Pilot Business Park since its inception and helped agree the sale of the land to Chancerygate before the development, the funding transaction with M&G Real Estate and the subsequent letting to Amtico.
He added that the deal highlighted the demand for employment space in Coventry.
David said: “The fact that the property is let before practical completion is indicative of the quality of the location and the development at Pilot Business Park but also the demand there is in this region for quality space.
“That’s why we must continue to press the claim for more employment land in the sub-region.”
Mark Halls, head of logistics at Amtico Flooring, said the new unit would be a ‘showpiece’ building for the company.
He said: “We were very keen to obtain Pilot Business Park – it’s close to our factory so we can retain our staff and continue to support the local economy, something that’s important to us. It’s a good size, well-constructed and meets all our needs for accessibility and sustainability.
“Amtico consider Pilot Business Park to be our showpiece building, supporting the future growth plans for the business, allowing us to expand our warehousing and Flooring School training facilities so support increased sales and production levels and new product ventures.”
03 November 2017