Easter Group and Legal and General’s Industrial Property Investment Fund (IPIF) have completed the letting of Unit 7 to Verder Group at Carnival Park, Basildon.
The 176,000 sq ft scheme comprises 17 high quality production/warehouse units ranging from 4,800 to 26,250 sq ft.
Over 50% of the development has been sold, let or is under offer. Most recently, Unit 7 of approximately 7,650 sq ft has been let to Verder Group, a process technology company involved in liquids and solids handling. A further five deals, totalling 63,750 sq ft, are under offer and in solicitors’ hands. Previously, Easter reported the sale of 21,950 sq ft to Timesco.
Commenting, Jim O’Connell of Glenny says, “There continues to be a healthy demand for leasehold which shows no sign of abating. There is also a steady stream of requirements for smaller freehold units.”
James Dipple, development director at Easter, comments “This is a high quality product in an excellent location and these fundamental strengths have ensured the take up of units.”
IPIF will retain 60% of the scheme which is being let on occupational leases.