As part of its continuing expansion, National Packaging has recently taken 2,796 sq m (30,100 sq ft) in three deals across the country.
In the first deal, NP has taken 1,672 sq m (18,000 sq ft) on the Team Valley Industrial Estate, Gateshead, Tyne & Wear, on a 15 year lease with five yearly reviews and a break in the tenth year at £75,000 pa with three months rent free. The lessor, Scottish Provident Institution, was represented by Naylors Chartered Surveyors.
At the Terrace Hill Group’s Riverside Industrial Estate in Middlesborough, NP has taken a modern 660 sq m (7,100 sq ft) unit from Terrace Hill Group. A 15 year lease with five yearly reviews was agreed at £23,000 pa with six months rent free. Dodds Brown Commercial acted for the lessors.
The third deal involved the acquisition of a 465 sq m (5,000 sq ft) unit in Marfleet Lane, Burma Drive, Hull. A two year lease at £18,750 pa was agreed with landlord English Partnerships. Letting agents are Penrose Pearce Hodges.
Grimley represented NP in all three transactions.
EGi News 26/04/96
