A trade tools retailer has opened a new store in Nottingham, creating ten jobs, following an off-market letting brokered by commercial property agency Innes England.
Screwfix – which has more than 700 stores nationwide and stocks over 11,000 products in each store – has signed a lease on industrial premises near the cattle market on Meadow Lane.
Associate director Scott Osborne, who oversaw the deal, said: “It’s a prominent building in a great location opposite Lady Bay Retail Park. We knew Screwfix had been looking for another trade counter outlet in this area for some time and we were delighted to be able to negotiate a deal, through their acquisition agents, Colliers International, which suited all parties.”
Owner John Freeston originally purpose-built and fitted out the 9,500 sq ft unit as a meat processing plant, tying in with the history of the area where livestock was traded until 1993.
After two decades of trading, he let the building to tool and equipment hire company HSS Hire, who moved out in January 2019.
Paul Rogers, director within the building surveying team at Innes England was initially called in to act for the landlord in respect of a dilapidations claim.
Paul said: “After a thorough inspection and detailed negotiations, we were able to settle a significant sum for our client, allowing him to re-invest in landlord works and improve the property.”
The works are a welcome contribution for Screwfix, who is undertaking a comprehensive refurbishment of the building.
John Freeston said: “I’m pleased with the building surveying service, undertaken by Innes England’s Paul Rogers, and the support in brokering this deal both in respect of agreeing dilapidations with the outgoing tenant and with Screwfix.”