Member Article

P&G logistics supplier renews lease at Seaham distribution unit

Global logistics supplier, Woodland Group, has renewed its lease at a Seaham distribution centre for another three years.

The firm have renewed on a 20,000 sq ft property at Hall Dene Way in Seaham Grange, which has been owned by CRT Property Investments Ltd since March 2015 when it was acquired as part of a deal for a pair of Seaham Grange units.

Woodland, who are part of Woodland Global Limited which acts as a supplier to the likes of Grundfos and P&G, re-negotiated a new three-year lease with asset management business Blue Marble, who acted on behalf of CRT in the new deal.

CRT themselves are a part of the Coalfield Regeneration Trust, an independent charity set up to provide support and regeneration efforts for former coalfield communities, many of which fall into the 30% most deprived areas in the country.

Property Investment and Development Director for CRT Property Investments Ltd, Shaun O’Brien, commented: “We’re extremely pleased to have signed a new lease with Woodland Global Limited and look forward to working with them over the next three years.

“The unit is a fantastic building in a prime location, it is easy to see why they have chosen to stay here.”

Tim Matthews, Chief Executive of Blue Marble Asset Management, added: “Within 12 months we have successfully renewed the lease on Unit 2, retaining the existing tenant.

“This move was part of our strategy for this investment when we first advised CRT Property Investments Ltd on the purchase last year. We deliver added value to meet our clients’ investment objectives by pro-active management to a pre-agreed strategy.”