Our work - 23/07/2013

Acquisition of industrial unit on behalf of Exova (UK) Ltd

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On behalf of global testing experts Exova (UK) Ltd, LSH was instructed to secure a new warehouse facility as close as possible to their existing building in Netherton.

Exova were keen to source a world class testing facility to meet their operational requirements for a base suitable for larger, more efficient testing.

Following a comprehensive trawl of the local market, Unit 1 at Yorks Park, Dudley was identified as the ideal solution for their ongoing property requirements.

Substantial savings secured for tenant

We were able to match the right property to Exova’s needs within a short period of time. Following detailed negotiations with the landlord, we agreed a new 10 year lease at £5.10 sq ft (quoting rent £5.50 sq ft) with a lucrative 21 month rent free period.

Over the course of the lease term these savings equate to approximately £300,000. Furthermore, a capital contribution was also secured from the landlord to cover the full cost of the installation of warehouse lighting and perimeter fencing to the rear loading yard.

Project management of £3 million fit out

Our building consultancy team also managed a £3 million fit out project at the premises, which includes the construction of new offices, laboratories, a warehouse crane and external compounds.

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