Autoglass Success Leads To Speculative Development In Romford
Legal & General and Canmoor, advised by Bray Fox Smith, have agreed a 15 year lease with Autoglass for a 15,000 sq ft unit at Ashton Road in Romford in Essex. This is the first pre-let to take place on the Harold Hill Industrial Estate for over 6 years and has led Legal & General/Canmoor to speculatively build a further two adjacent units.
Autoglass has taken Unit 1, Viper at £9.00 per sq ft with twelve months rent free. Legal & General/Canmoor are now speculatively developing two further units of 14,940 sq ft and 12,790 sq ft. All three units will be completed by March 2015 and are located just off the A12, between B & Q and Trade City Romford.
Patrick Fox at Bray Fox Smith comments, “Our client is delighted with the rent and lease length achieved. Pre-lets of this nature have not been seen in the area for over 6 years and the deal is a sign that confidence is returning to the market for the right product and location.”
Bray Fox Smith advised Legal & General/Canmoor, Cribb & Associates advised Autoglass.
