Industrial acquires 152k sq ft in Essex
ITS to move into new premises in largest deal completed along M11 corridor in 2016
Strettons and Industrial Tool Supplies (ITS) are pleased to share the completion of a deal which will see ITS relocate to a 152,000 sq.ft unit at the Harlow Logistics Hub for use as its new head office and distribution centre.
- The deal is the largest to take place along the M11 corridor in 2016 (Source: CoStar).
- ITS is tripling its current space, moving from a 45,000 sq.ft distribution centre and head office facility in Loughton, Essex.
- The company has taken a 15-year lease at a rent of £1.06 million a year.
- Negotiations have been managed and completed by Strettons’ Industrial Agency Department.
MOVE TO ENABLE EXPANSION FOR ITS
To enable further business expansion, ITS required larger premises with good transport links and appointed Strettons to help find a suitable property and facilitate the transaction.
The company will move from its current 45,000 sq.ft. distribution centre and head office in Loughton and expect to take occupancy of the new building early this year. The relocation will result in a 300% increase in capacity for the company.
The move will be the focal point of an ongoing growth and acquisitions strategy for ITS, a 36-year-old company that has grown to become one of the UK’s largest independent suppliers of professional power tools, hand tools and related products, supplying clients nationally through its website ordering service and across its four trade counters in Leyton, Walthamstow, Loughton and Harlow.
Strettons’ Industrial Agency Department, led by Director Neal Matthews, approached landlord Commerz Real to suggest splitting the 380,000 sq.ft distribution centre which has been vacant since electrical retailer Comet went into administration in 2012.
Neal Matthews, Head of Strettons’ Industrial Agency Department comments: “This is the 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."
“Once we visited the site we knew it would be perfect for ITS should it be possible to split the building into two units. I am pleased that the landlord agreed and I am confident that the new unit will suit the needs of ITS perfectly and enable the company to fulfil its ambitious expansion plans.”
Kevin Hubbard, Managing Director, ITS, comments: “The acquisition of the new Harlow facility enables ITS to build on sustained year-on-year growth. 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.”
CONNECTIONS & DISTRIBUTION
The new ITS head office will be a highly specified modern distribution facility with multi-storey ancillary office accommodation within Harlow Logistics Hub.
The Hub is situated on the outskirts of Harlow on Edinburgh Way, a thriving industrial and trade location with a strong line-up of occupiers including Brakes Bros and DHL. Such occupiers are drawn to the location for its good transport links to Stansted Airport, which offers national distribution and cargo transfer at over 200 worldwide destinations, and to London and the rest of the UK via the M11 and M25. The area also benefits from excellent rail connectivity to London and the South East with a journey time of only 31 minutes to London Liverpool Street and 20 minutes to Stansted International Airport.
To learn more or discuss any of your requirements with us, please contact our Industrial Team on 020 8520 1918 or at email@example.com.