Fast-growing Irish retailer Smyths Toys is close to taking 415,000 sq ft near Stoke-on-Trent for a new national distribution centre.
Smyths is in advanced negotiations with CBRE Global Investors to take the Alto 415 warehouse development at Lymedale Business Park, off the M6 motorway. It is understood that the retailer will sign a 15-year lease, and will pay close to the quoting rent of £4.25 per sq ft.
Alto 415 was completed in 2008 and was one of the last of a slew of large-scale industrial units to be speculatively developed in the north Midlands and North West area before the recession. It has been vacant since completion.
Jones Lang LaSalle and CBRE are acting for CBREi, Colliers International is acting for Smyths.
Daniel.cunningham@estatesgazette.com
