M7 Real Estate (“M7”) the pan-European investor and asset manager, announces that it has fully let North Point Units 1-3 at Belmont Business Park (“North Point”) on behalf M7 Real Estate Investment Partners V.
North Point is located two miles to the East of Durham in North East England, and is now fully occupied following a new letting of 20,216 sq ft industrial unit to B. M. Stafford & Sons Ltd., a general haulage services firm which has been operating for over 80 years.
Other occupiers at North Point include Amey Utility Services Ltd, a wholly owned subsidiary of Amey plc, a leading UK-based infrastructure support service provider, and Durham Roofing Centre Ltd, a family owned roofing and rendering business also established over 80 years ago.
North Point sits within the 42 hectare Belmont Business Park and provides good quality multi-let industrial accommodation, located in a dynamic market with limited supply. The property benefits from its strategic location, adjacent to Junction 62 off the A1(M) motorway.
Sadie Fitzpatrick, Senior Asset Manager at M7 Real Estate commented: “We are delighted to have secured a new five year lease with B.M. Stafford during the challenging conditions that are being faced due to the impact of Covid-19 . This has been achieved through M7’s active asset management; utilising our local leasing intelligence and employing a flexible approach thereby attracting a strong covenant.”