St. Modwen has fully let its 425,000 sq ft former Ford factory building, Arisdale Avenue near Thurrock, Essex.
Littlehampton Book Services, which distributes books for publishers including Which?, Radio Times and The Good Hotel Guide, has taken the last 89,000 sq ft in the building.
Other existing occupiers within the factory are Hill Group and CMN Logistics. St. Modwen has also let over seven acres of car park land on the 30 acre site for open storage, in addition to leasing all the floor space.
The regeneration specialist and developer bought the site from Ford in 2006 and is currently applying for change of use planning consent for residential development which it expects to deliver to the market in 2014.
Until then, the site will operate as a managed industrial estate generating income of over £1m a year which is secured until December 2013.
Nick Kay, development director at St. Modwen, said: ‘This deal shows the resilience and flexibility within our portfolio and the attraction of our well-located value for money accommodation in the current market place. The site is now generating substantial income and all property outgoings are being fully recovered.’
Littlehampton, was represented by Lewis Doyle Surveyors. St. Modwen was represented by its joint letting agents, Glenny’s and Colliers CRE.
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