Rainham warehouse acquired for Sheffield timber business
26 February 2008
40,000 ft² unit at 124, New Road, Rainham, Essex
Arnold Laver and Company Ltd, a Sheffield based timber merchant, has acquired 124, New Road, Rainham, Essex, a 40,000 ft² warehouse.
Lavers has agreed to take a ten year lease at an initial rent of £210,000 (£5.25 ft²). There is provision for a mid term rent review and the tenant has an option to determine the lease at the end of the fifth year.
The landlord is extensively refurbishing the building with practical completion of the works due any day now.
King Sturge represented Lavers in the acquisition and is monitoring the refurbishment. Glenny acted for the landlords CNC Investments Ltd.
