Guildford: Largest industrial letting since 1990s

Acting on behalf of national client, Land Securities Trillium (Trillium), commercial property consultancy, Lambert Smith Hampton (LSH), has successfully let 69,450 sq ft of Guildford industrial space to Stapleton’s Tyres. This is the largest industrial letting in the town since the early 1990s.

Stapleton’s Tyres is one of the UK’s largest distributors of passenger car tyres to the specialist tyre retail trade, the car dealership sector and the consumer retail market. It has signed a new four and a half year lease on the property at Moorfield Road, Slyfield Industrial Estate. A rent of £525,000 per annum has been agreed, which equates to circa £7.60 per sq ft, with the tenant benefiting from an undisclosed incentive. Its acquisition of the property will fulfil its tyre storage and distribution needs for its retail and wholesale business across the Southern Home Counties.

Charles Wood, Director at LSH’s Guildford office, commented: “Guildford is not normally recognised as a mainstream distribution/logistics centre and so this deal is highly significant for the local market - it represents the largest letting of a single industrial/warehouse unit in the town since the early 1990s.”

He added: “The property had been available for three years before LSH was instructed to market it and the letting was concluded within 18 months. LSH acts for Trillium on a national scale, with all 28 LSH offices across the UK and Ireland involved in marketing Trillium’s properties.”

Specialist warehouse and distribution property consultant, sbh, acted for Stapleton’s Tyres.