3 Nov 2016
M7 signs Dekapak for new HQ at Goldthorpe Industrial Estate
M7 Real Estate, the pan-European real estate investor and asset manager, announces on behalf of a major Financial Institution that following a targeted asset management and marketing programme, it has secured a new 31,000 sq ft letting with Dekapak Solutions at the Goldthorpe Industrial Estate in Barnsley.
Dekapak Solutions, which specialises in packaging products for companies including Nestle, Tetley and Faberge, has agreed a five year lease on the remaining void. Following this letting the estate is fully let.
M7 has been working as asset manager on this multi let South Yorkshire estate, totaling 153,209 sq ft, since January 2015, at which point there was a void rate of 19% that was set to grow to 26% as a result of a known tenant vacation. Since then, M7 has carried out estate and unit specific improvements, resulting in the void space becoming fully let within one month of the previous tenant’s vacation. The remaining units managed by M7 are let to BJS Storage & Distribution Ltd, Micksgarage.com & Kostal UK Ltd.
Victoria Mann, Senior Asset Manager at M7, comments: “The industrial market in the north of England continues to gain strength as more occupiers take advantage of the competitive market and excellent transport links, as proven by the relocation of Dekapak to Goldthorpe Industrial Estate. Having identified a number of opportunities to improve the asset and drive occupancy at acquisition, we have now successfully completed that programme of asset management initiatives, to deliver a fully let asset with a strong tenant base.”