Paragon Customer Communications, a supply chain and workspace solutions business, has leased 110,000 sq ft. at Greenland Industrial & Trade Park Sheffield.
Paragon has signed a five-year term at £7.25 per sq ft. on the former B&Q retail warehouse, which was repurposed into a modern industrial / distribution warehouse.
Occupancy across the estate, which is located three miles to the east of Sheffield city centre is now at 83%.
The scheme, which has been funded by Barwood Capital’s Regional Property Growth Fund IV and developed by Tungsten Properties has already attracted established national occupiers including Wolseley UK, Costa Coffee, Headlam, Formula One Autocentres and Auto Windscreens.
Paul Mack, director at GV&Co, said: “This letting to Paragon Communications represents a major success for the park and we are delighted to see yet another high-profile name be secured alongside a plethora of national occupiers.”
Leeds based property consultancy GV&Co are joint agents with Colliers.
Adam Smith, asset management director at Barwood Capital, said: “We are delighted that Paragon has chosen our scheme as its new home. Our conviction that a redundant retail warehouse could be successfully repurposed has been proven.
“It strikes a positive note to see this building and its surrounding land given a new lease of life – a theme that will no doubt develop across the country as investors refine their ESG requirements.”
David Mole, development director at Tungsten Properties, added: “With a further 10% of the scheme now under offer to another national occupier, the positive letting story continues and just four months after reaching practical completion. Four trade counter units remain available, and based on the interest received to date, we are expecting to see those let quickly.”
Leeds based GV&Co is a leading property consultancy providing support during acquisitions, sales, lettings and investment transactions. Its services include industrial agency, building surveying and project management, investment, and lease advisory and asset management.