Valad secures Watford’s largest warehouse letting of 2010

Valad Property Group has secured a tenant for The Ascot Centre, Watford, in the Hertfordshire town’s largest warehousing deal in three years.

Four separate units, totalling 40,910 sq ft, have been leased by Sigma Pharmaceuticals at centre on Watford Business Park.

Sigma Pharmaceuticals has taken the space in addition to its existing facility at Colonial Way in Watford.

Details of the rent paid were not available.

Christopher Smiddy, Director in LSH’s Agency team, said: “This is a positive end to the year, not only for our client but for the region’s industrial market. Watford, like other centres, has seen a decline in industrial enquiries over the last two years, due to the recessionary climate’s impact on consumer confidence. However, the level of competition between alternative industrial buildings in Watford has caused landlords to significantly reconsider their rental requirements – many offering greater rental incentives and more tenant-friendly lease terms. As a result, space is being disposed of and – with no new speculative development in the pipeline – Watford is beginning to see a lack of good-quality stock.”

LSH and Jones Lang LaSalle jointly market The Ascot Centre, where 9,000 sq ft of warehousing space remains available. Robert Nurton FRICS acted for Sigma Pharmaceuticals.

 

paul.norman@estatesgazette.com

 

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