The Leeds office of commercial property agent, Eddisons has demonstrated the extent of its negotiating skills having completed a complex deal on-behalf of Kodak Polychrome Graphics.
Owned by The Civil Aviation Authority Pension Fund and leased by Kodak since 1988, Eddisons was instructed to sub-let the 85,398 sq ft industrial property at the Gildersome Spur Distribution Centre. Situated in a prominent position on the development, just five miles south west of Leeds city centre and close to the M621 / M62, the property was offered off an asking rent of £340,000 per annum.
After high levels of interest from a number of parties, Eddisons entered into detailed negotiations with Phoenix Delivery Systems, a process that also involved the company’s parent companies, the Co-operative Group and United Co-operative Ltd.
“It’s rare that a unit of this size becomes available in this area and as a result we anticipated a high level of interest in the property,” said Eddisons’ Simon Croft. “With the number of different parties involved the negotiations were more complex than originally envisaged. That said it’s very rewarding when such a complex deal comes to fruition.”
Phoenix Delivery Systems signed a five-year lease on the property.