A Stoke-on-Trent trading estate is up to full capacity after more than a decade following a £1 million extensive refurbishment.
Work at Johnstone’s Trading Estate, in Hanley, has led to three new lettings in units that had been vacant for more than 10 years and had fallen into disrepair.
The trade counter development was owned by Johnstones Paints, which has moved into a different unit on the site, before being sold to The Inglewood Investment Company.
Work has included roof replacements, asbestos removal, new doors, re-wiring and new plumbing.
The three previously-empty units have now been let to Just Floors, BTL Industries and HGV Direct.
The lettings have been secured by Newcastle-under-Lyme-based commercial estate agents Rory Mack.
Managing Director Stephen Gallet said: “This was both a satisfying and slightly complex deal to be involved in because it involved not only attracting a buyer for the entire site but also attracting a buyer who had the ability and desire to substantially refurbish.
“We also had the complexity of negotiating with the buyer lease terms that were acceptable to Johnstones Paints in order for the whole deal to marry together.
“After we sold the site we were subsequently retained by the purchaser to assist with the letting of the vacant accommodation and it has been very satisfying to see not only the end result of the physical building but also the fact that because of the quality of the refurbishment we were able to attract good quality tenants whilst at the same time negotiate rents which have exceeded previous rentals achieved in the area and for similar units.”
He added: “We have also been retained to manage the site, so we continue to have a day-to-day involvement with it and the overall outcome has been extremely satisfying.
“It is also nice to see a company from outside the boundaries of Stoke on Trent invest in the area which is ultimately for the betterment of the city.”
