Perfect property package for DS Smith at Summit Crescent
Task
Leasehold Disposal - Marketing, Disposal Strategy and Lease Negotiations
A global leader in the manufacture of packaging will soon be on the move after securing impressive new premises in the West Midlands. DS Smith found the perfect property package with a 98,000 sq ft industrial unit at Summit Crescent Industrial Estate in Smethwick.
Approach
The building will receive a £1.2 million bespoke refurbishment which includes 7,000 sq ft of office space, new cladding and roofing, as well as a canteen and toilets. The firm plans to move its Oldbury operations to Smethwick by the start of next year following completion of the works.
Outcome
Acting upon behalf of the landlords, Industrious, agreed a 10-year lease with DS Smith who were represented by Granby Martin Vine.
Adam Anderson, Managing Director of the Heavy Duty division of DS Smith said: “Summit Crescent is a great new home for our operations. We are a growing business and needed a high quality space that can accommodate us for the foreseeable future. We’ve been based in the West Midlands for a number of years and the close proximity of the new premises to our old ones will help us to limit disruption to our busy operations and to our staff. The size of the Summit Crescent facility also means we can move operations from several units into one. We’re looking forward to settling in.” DS Smith employs 22,000 people across 20 countries and specialises in paper and plastic packaging.
Richard Phillips, Portfolio Director at Industrious commented: “We always anticipated undertaking a comprehensive refurbishment of the building to match the aspirations for great quality accommodation from enquiries in the Birmingham and Black Country market. We are delighted to have secured DS Smith as a new customer and look forward to a long lasting working relationship.”
Industrious manages approximately 1,250 industrial units and warehouses on 80 estates across the UK. The portfolio comprises over 7 million sq ft in units ranging from 500 sq ft to over 100,000 sq ft. From its offices in Birmingham, Edinburgh and London, the company offers flexible terms to suit individual business needs.
There is only one 5,000 sq ft unit still available to let at Summit Crescent Industrial Estate, which is situated approximately 1 mile from junction 1 of the M5 motorway and three miles from junction 2. It benefits from good access to the national motorway network with the M5 providing direct access to the M6 and M42 motorways. The site is approximately five miles from Birmingham City Centre and close to Smethwick Galton Bridge Railway Station, which provides rail access to Birmingham New Street, Wolverhampton and Walsall amongst other destinations.
White Rose Chartered Surveyors were acting as joint agents for Industrious alongside Johnson Fellows and Cushman & Wakefield.