Nuveen Real Estate

Gatwick
Landlord/Investor
33,402
sq ft
industrial unit
3,000
sq ft
office space
15
year
lease, 10-year break option, £14.00 psf headline rent, 15 months rent free period
100
%
occupancy for Centron
Biggest industrial transaction in Crawley that year, attractingUK’s biggest supplier of gift and wine packaging.
Located in UK’s largest business improvement district.
Challenge

Vail Williams’ agency team was appointed by Nuveen Real Estate to market and let the second of two 33,402 sq ft industrial units at Centron, a brand-new industrial development on Gatwick’s most established industrial estate at Manor Royal.

Our client had delivered an extremely high standard of building made up of two adjoining units, in response to rising demand from occupiers.

These included a variety of sustainable features together with a mix of industrial and office space.

Having already let one of the units to MEL Aviation Components on a 15-year lease two years prior, our agents already understood the building and demand profile well, in order to market and let the second.

How we helped
  • Undertook proactive marketing campaign to potential occupiers across the region.
  • Promoted the high-quality features of the building, from LED lighting and solar PV to its 10m eaves height, office provision and car charging points.
  • The unit’s strategic location close to the M23, M25 and Gatwick Airport made it popular amongst potential occupiers.
  • Organised and led viewings of the building.
  • Secured interest from Wine Box Company (WBC), which was looking to relocate.
  • Worked with WBC and our client to negotiate the best possible lease terms.
Results
  • Successfully negotiated a deal to secure a 15-year lease with WBC at record rents, in what was the biggest industrial transaction that year in Crawley.
  • The deal brought Centron to 100% occupancy, securing a, assured, high-growth, tenant for our client on excellent terms.
  • As a result of the deal, WBC had the grow-on space it needed and was able to relocate quickly, ahead of its busiest time of year.

We are delighted to welcome Wine Box Company to Centron and are grateful to Vail Williams for their support in marketing the building, which now sees us reach 100% occupancy following the previous letting to MEL Aviation Components.”

Robin Hutchinson, Fund Manager at Nuveen Real Estate.

Get in touch

If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.

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