Advised by Alder King, Williams Gunter Hardwick and GVA, Terramond let Unit D Poplar Park to Elemis on a new 15 year lease, at a rent of £6.50 per sq ft. Unit D is a high specification warehouse/distribution unit with office space, totalling 50,151 sq ft.
Elemis, a global distributor of spa and skincare products, will now consolidate its distribution premises in Bridgwater and office premises in London into Unit D, to create a new headquarters for the company in the UK.
The deal is incredibly significant in the local market, because it signifies the letting of the last available, brand new, mid sized industrial building.
Andrew Ridler, head of industrial agency at Alder King negotiated the deal to Elemis. He commented: “There are no brand new high specification industrial/distribution buildings in the 10,000 sq ft to 500,000 sq ft size bracket left available on the market. It reinforces the need for speculative development and may persuade those businesses with immediate requirements to go down the design and build route.”
Poplar Park sits within the larger Cabot Park development, which is a dedicated distribution park at Junction 18 of the M5 that has already attracted many occupiers including Robert Wiseman Dairies, Kuehne & Nagel, Honda and John Lewis.
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