Commercial property agency Siddal Jones has today announced the successful rent of a huge warehouse in Birmingham.
Let to two expanding engineering firms Baker & Finnemore and Cirteq – which both specialise in making precision fasteners; the pair will use the 10,000 sq ft property at Unit 6-7, Camden Drive in the Jewellery Quarter for storage.
Both companies have their headquarters in Keighley, West Yorkshire, and are owned by German group Titgemeyer, which has its UK base in Tipton.
Acting for landlords Pall Mall Estates, Siddall Jones struck a 10-year rental deal worth around £47,500 per annum for the warehouse, with a potential break clause in 2025.
Commenting on the deal, Ryan Lynch, Associate Director of Siddall Jones, said: “We are delighted to have agreed a rental to Cirteq and Baker & Finnemore with a deal representing circa £4.75 per sq ft on a 10-year term.
“Due to the appetite for residential development, we have safeguarded our client’s position by including provision for a rolling development break, upon 12 months notice, from the 4.5 year anniversary.”
It is a substantial ground floor warehouse with electronically operated roller shutter doors and benefits from concrete flooring, high bay sodium lighting and gas heating.
The offices at the premises have a shower room, toilets and kitchen facilities, while a secure yard at the front provides excellent loading and car parking space.