Sandyford Properties lets units at Deeside Industrial Park
Sandyford Properties, a leading multi-let industrial property company in the UK, has successfully leased three units at Deeside Industrial Park.
The lease comes just six months after acquiring the units, highlighting the company’s effective investment strategy.
Located on a four-acre site at 80-82 First Avenue, the units, which total 70,000 sq ft, were previously owned by DRB Group and purchased in September 2023.
This strategic acquisition has led to a significant leasing agreement with Astra Vehicle Technologies, a specialist in commercial vehicle engineering.
The company, moving from Ellesmere Port, Cheshire, aims to expand its production of Iveco gas-powered trucks, known for their 90% reduction in carbon dioxide emissions.
Deeside Industrial Park benefits from excellent connectivity, adjacent to the A550, it offers easy access to the M56 and M53 motorways, making it a prime location for businesses looking to enhance logistics and distribution operations.
The new lease has been pivotal in Sandyford’s record-breaking first quarter of 2024, where it secured 36 new lettings and lease renewals. This resulted in a 44% rental uplift on previous rents, underscoring the high demand for quality industrial spaces in the northwest.
Paul Brindley, Managing Director at Sandyford Properties, expressed his satisfaction with the deal, noting, “The swift completion of this lease reflects the success of Sandyford’s value-add investment strategy for Deeside and the strength of our asset management team. We are excited to welcome Astra Vehicle Technologies to our portfolio and support their expansion.”
John Chadderton, CEO of Astra Vehicle Technologies, also commented on the move, “Relocating to Deeside Industrial Park provides us with the flexible space we need to support our drive to net zero. This move is an exciting step for Astra, and we look forward to a fruitful collaboration with Sandyford.”
Advisory support for the lease was provided by BA Commercial, B8 Real Estate, and Hill Dickinson, ensuring a smooth and effective transaction.
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