Marchmont secures two Durham deals
Following an overhaul of the units at North Point on Belmont Industrial Estate, lettings to Boniplas and Isoler have been completed, totalling 37,000 sq ft.
Commercial property consultancy Naylors Gavin Black, joint agent with Knight Frank at Belmont, project managed the refurbishment of the units.
Construction materials wholesaler, Boniplas, which already occupies a unit on the business park, has taken Unit 2 comprising 21,000 sq ft, to expand its operation.
Growing building integrity services firm, Isoler, based in Sunderland, has signed for Unit 1, which weighs in at 16,000 sq ft. Both leases are for 10 years.
Marchmont Investment Management has upgraded the 1990s-built properties to bring them up to modern standards, with a full strip-out and replacement of interiors, lighting and external cladding as well as installation of new EV charging points.
The contractor for the works was Maintain UK.
Duncan Christie from Naylors Gavin Black, who brokered the deals, said: “There is plenty of demand for quality industrial space of this size, in the market. Marchmont’s investment in an upgrade has paid dividends and the properties are now once again appreciating assets.
“This is a great example of how two different strands in our business – building consultancy and industrial agency – work seamlessly together to maximise our clients’ property assets.”
Tim Clarke, associate director at Marchmont Investment Management, said: “The refurbishments to the two units have helped us achieve record rents for the business park which is obviously a fantastic result.”
Clarke added that Marchmont has also now acquired the freehold of the unit let to Isoler, which it had previously held “under a particularly restrictive long leasehold”.
