25th June 2013
Weatherford relocates to larger premises at Tewkesbury Business Park
Smart Stabilizer Systems, a successful Gloucestershire business that is part of international oil and natural gas service company Weatherford, is relocating to larger premises at Tewkesbury Business Park.
The company, which designs and manufactures rotary steerable drilling tools for the oil and gas industry, has taken 5500 Tewksbury Business Park, a 38,919 sq ft modern self-contained warehouse and open plan office building.
Building 5500 was previously occupied by Tyco Electronics on a 20 year lease. Following its relocation to nearby Miller Court, Smart Stabilizer Systems has taken an assignment of the lease which runs until 2030.
Rob Holley of property consultants Alder King said: “This has been a win-win situation for all parties, with the landlord securing continuity of occupation and rental income and Tyco and Weatherford moving into hi-tech, energy efficient premises that meet their future requirements.”
Tyco Electronics was represented by Alder King and Capita Symonds and Weatherford represented itself.