January 03, 2012
Stable demand by tenant for Leasehold Depots
Waldrons have seen a steady flow of commercial tenants for leases of storage and distribution depots and warehouses.
Timothy Clark of Waldrons comments, "The key is strategic location. Those sites with the correct locational and logistical attributes such as those on the M5 have attracted commercial occupiers even in a recession."
"Leases as distinct from freeholds look healthier on balance sheets since equity is not locked up in bricks and mortar. Spare cash can be utilised for keeping the business afloat. Leases also give businesses flexibility. However the leases are typically short, just one to three years in length."
Waldrons advise that even in shorter deals tenants need to be wary of hidden liabilities over dilapidations and service charge. Waldrons have recently acted in a series of leasehold transactions of haulage yards, big sheds and depots for commercial end -users.
Pictured above is Robert Finnegan (right) with Timothy Clark. Finnegan Haulage Limited has recently opened a haulage depot at 9 Harvey Works, Shelah Road, Halesowen, B63 3PG.
Deal of the month
Waldrons act for Industry Leader
Waldrons property team have acted for one of the leading companies in waste disposal management in the UK in the acquisition of a new depot.
Tardis Environmental Uk Limited is a market leader in commercial scale wet waste removal, drainage and as providers of portable toilets. The acquisition of a new storage and distribution depot at Tyne Road Sandy in Bedfordshire allows Tardis to complement its existing network of depots nationwide.
Timothy Clark of Waldrons commented, “Waldrons are delighted to have assisted Chris Boydon at Tardis and his team in allowing it to grow its national presence beyond the existing depots. We hope that the new operation in Sandy will be as successful as the other sites.”
Chris Boydon, director of Tardis pictured above (right) with Timothy Clark, said “The new Sandy depot now brings our depot total nationwide up to six. We have plans to open more depots in the near future.”
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