Power tool provider Industrial Tool Supplies is to take 152,000 sq ft of space at the Harlow Logistics Hub for its new head office and distribution centre in the largest deal along the M11 corridor.
ITS will move from its 45,000 sq ft office and distribution centre in Loughton to the 380,000 sq ft facility, which was previously occupied by Comet until it went into administration.
The company has taken a 15-year lease at £1.06m per annum.
The move is in line with an ongoing growth and acquisitions strategy for ITS, which was founded in 1979.
Neal Matthews, head of Strettons’ industrial agency department, which advised on the deal, said: “This was third largest deal to take place in Essex in 2016 and the largest along the M11 corridor. It highlights the appeal of Harlow for companies looking for warehouse space, given its good transport links into London and the East of England.”
Kevin Hubbard, managing director at ITS, said: “The warehouse allows us to invest in new technologies and processes that will ultimately lead to increasing efficiencies. The positive impact this will have on our future financial performance is difficult to overstate.
“Customers will enjoy a wider range of stock and a later cut-off time for next-day deliveries. Of course, this is also great news for recruitment in the area. Several new hires have already started in technical positions and dozens of new jobs will be created in 2017.”
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