Commercial property firm celebrates trio of deals

A commercial property consultancy is celebrating a hat-trick of deals.

Naylors completed three industrial lettings spanning nearly 175,000sq ft during the second quarter.

Bosses say the agreements “underline the continued demand for high-quality industrial and logistics space.”

The deals included the letting of Team Valley’s 65,000sq ft Centralway 65 unit to flooring distributor Headlam Group on behalf of UK Land Estates.

Newcastle-based Naylors also supported Project Padel – on behalf of Columbia Threadneedle – on a 52,972sq ft warehouse letting in North Tyneside.

Officials say the site will open this summer and feature single and double padel courts, pickleball courts, a gym, spa and reformer studio.

Its third deal saw delivery firm 3PL take a 57,000sq ft unit in Blyth, Northumberland, which was formerly used by APS.

Keith Stewart, Naylors managing partner, who led the trio of agreements, said: “Securing three lettings of more than 50,000sq ft in a single quarter is an excellent result and reflects the resilience of the North East industrial market.

“The letting of Centralway 65 attracted significant interest, and the Project Padel transaction demonstrates how existing industrial buildings can be successfully repurposed.

“The Blyth letting additionally shows the value high-quality refurbishment can bring to the market.”

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