Member Article

Surge of SME lettings at Team Valley’s Kingsway Interchange

A recent surge of lettings at Kingsway Interchange on Team Valley has resulted in four vacant units totalling 43,500 sq ft being occupied by new tenants.

Naylors Chartered Surveyors, who are sole agents on the development, secured all four deals which include the letting of a 20,000 sq ft unit to Handicare, 8,500 sq ft to Howdens Joinery, 10,000 sq ft to NX Power, and 5,000 sq ft to Lagenta Logistics. Naylors acted on behalf of clients of Cornerstone Real Estate Advisers.

Naylors’ head of industrial agency, Keith Stewart said: “We are pleased to have filled a number of the vacant units at Kingsway Interchange, this will always prove to be a popular location with SME’s due to the size of the units and its close proximity to the A1, making it ideal for trade counter occupiers. We are particularly pleased to have secured Howdens Joinery as a new tenant on the development, after working with them for two years on their relocation from Neilson Road in Felling.”

Mark Churchill, Head of Property at Howdens Joinery, said: “We have been looking for the right premises on the Team Valley estate for some time and this new depot will enable us to grow our local business. We are very pleased to be opening at Kingsway Interchange as part of our on-going expansion programme.”

Kingsway Interchange is a development of 24 industrial, warehouse and trade units situated behind Sainsbury’s in the South East corner of Team Valley. The development has attracted a number of strong covenants in recent years with other occupiers including; Screwfix, DHL, Plumb Center and PTS.

This recent spate of lettings leaves only three vacant units on the estate, one of which is currently under offer.