Sports manufacturer Umbro has taken a prelet on a 31,029 sq m (334,000 sq ft) unit at Smartstage’s Link 56 distribution park on Deeside, North Wales.
Umbro is paying a rumoured £43 per sq m (£4,00 per sq ft) on a 15 year lease with a break option in the eighth year. The retailer hopes to move into the unit by mid-December. Smartstage is the property development side of local firm Lloyds Animal Feed.
According to Umbro’s agent Jeremy Hobson at Elliott Partnership, Umbro was unable to find suitable existing buildings capable of adaptation. He added: “There were no developers prepared to do a prelet with a break option in the fifth year. The eighth year break option was a compromise.”
Link 56, adjacent to the Welsh Development Agency’s Deeside Industrial Park, is expected to benefit from a new link to the Third Dee Crossing. Earlier this month the WDA announced plans to buy 46.45 ha (500 acres) next to the park to cope with expected industrial growth in the area. About 18.58ha (200 acres) will be developed with the balance being turned into a nature reserve.
Legat Owen and Davis George acted for landowner Smartstage while Elliott Partnership advised Umbro.
EGi News 17/06/97
