Commercial real estate investment company, 4th Industrial, invests in multi let and light industrial property in identified target markets across the UK.
4th Industrial successfully acquired Tunstall Arrow South in 2023 which comprised of five individually let modern industrial units. All five lettings were handled by the team here at Mounsey Chartered Surveyors. Plans were subsequently announced for the development of a further five industrial units directly opposite Tunstall Arrow South, named Tunstall Arrow North.
Part way through the development of Tunstall Arrow North, 4th Industrial acquired the site with three vacant units remaining on the estate ranging from 13,533 to 31,170 sq ft. The real estate investment company instructed us to act on their behalf to dispose of the remaining units on the new development, after already successfully letting two of the site’s units.
Following another successful marketing period three new individual tenants were identified, all with good covenants and committing to the estate on strong lease terms with record rents being achieved for units in the area. In total, we’ve been involved in letting circa 240,000 sq. ft. of modern industrial accommodation over both Tunstall Arrow North & South.
Our Surveyor, Caine Savage, was involved in several of the lettings – seeing them through to completion by liaising with the client, tenants and solicitors to ensure the deals completed in a timely manner. Caine commented, “Strong communication with both our client and the prospective tenants was pivotal in achieving successful lettings for the site.
“We expertly managed the expectations of all parties involved including the specifications of legal documentation and new build warranties – leading negotiations and discussing requirements of local businesses with overseas ownership.”
Sarah Lindsay, Asset Management Director of 4 th Industrial, added, “We are delighted with the successful lettings at Tunstall Arrow North which strengthens our growing property portfolio.
“Once Mounsey Surveyors had identified the tenants, they swiftly negotiated and agreed lease terms and saw all three lettings through to completion. We are very pleased with their professionalism and expertise throughout the instruction, and we look forward to working with them again at some point in the future.”