M&G Real Estate agrees major warehouse letting

M&G Real Estate has let a 44,834 sq ft HQ style warehouse on a 15-year lease to Pilgrims Group at the Orchard Business Centre in Salfords, Redhill.

The industrial estate is held as part of M&G Real Estate’s UK commercial property strategy for institutional investors, managed by Dermot Kiernan and Matthew Peake.

Pilgrims Group, a specialist security and risk management and training company, has chosen the unit to be their new European training headquarters.

The deal follows the announcement that Selco Builders Warehouse has also taken a 15-year lease in the neighbouring unit, resulting in a combined take up at the estate of over 73,000 sq ft in the last few weeks.

The Orchard Business Centre is currently undergoing an extensive refurbishment  programme, including four smaller trade counter units of approximately 4,000 sq ft each, capable of combination, and all of which are currently available.

Commenting, Matthew Peake says: “This asset is one of a number of major enhancement  projects that we have undertaken in the portfolio that are now starting to bear fruit as the  return to growth looks increasingly sustained. The high quality refurbishment of this unit and its strategic location fronting the A23 has enabled us to secure another significant occupier on attractive lease terms and we welcome Pilgrims Group to the estate.”

Maxwell Brown and Colliers International advised M&G Real Estate. FTD Johns advised Pilgrims Group.

 

 

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