Member Article

Newcastle’s HTA Real estate seal double deal at Foxcover

Newcastle-based industrial experts HTA Real Estate have completed a double deal at Foxcover Distribution Park, Seaham, after negotiating the sale of two high bay distribution warehouses on the estate totalling 257,597sqft.

Having successfully secured a sale of unit 8 HTA were delighted when York based developer Grantside instructed them on the sale of Unit 9, which extended to 132,510sqft.

Due to their knowledge of the unit and the market, HTA Real Estate were able to secure an occupier for the building within 3 months of instruction which was South Shields-based cosmetics wholesaler Kans and Kandy – one of the UK’s leading residual product management companies – who moved their entire operation to the Foxcover site from their previous base at Simonside Industrial Estate.

Director at HTA Real Estate, Simon Hill, SAID: “I was involved in letting two units previously to Cumbrian Seafoods who unfortunately went into administration. Having this knowledge put us in a good position to try and find new occupiers for both the buildings.

“Our initial instruction was the sale of Unit 8 which extended to 125,087 sqft and had been fitted out for food processing by the previous occupier.

“Despite the complex fit out, we secured the sale of the building to on line retailer Andrew James Worldwide on the basis that they would take the unit back to its original warehouse use.

“Kans and Kandy not only required a large amount of warehouse space but, because its products are shipped worldwide, the dock loading facilities and 12m eaves height at the Foxcover site were crucial.

“The building also comprised of 14,487sqft of Grade A office accommodation, along with extensive secure car parking and yard areas, making it a perfect headquarters for a rapidly expanding company such as Kans and Kandy.”

Managing Director, at Grantside, Steve Davis, SAID; “Sites of this size and scale do not come onto the market every day and having worked previously with Simon on our industrial schemes at both Peterlee and Seaham I had no hesitation in utilising HTA’s expertise, in the industrial sector, to market Unit 9.

“HTA soon proved their worth as they moved quickly and professionally to secure an occupier for the property within 3 months of their instruction.”