Harworth Boosts Income Portfolio by Securing Deal with Kuehne + Nagel

Harworth Group plc has completed a new lease at its Sinfin Commercial Park in Derby to one of the world’s leading logistics providers, Kuehne + Nagel (‘KN’), further solidifying its income base.

Key Points

  • Harworth has leased Unit F – an industrial unit of 66,383 sq. ft – at its Sinfin Commercial Park in Derby to KN to be used as a distribution facility.
  • Sinfin Commercial Park is a well-established industrial and logistics location, situated two miles south of Derby City Centre and in close proximity to Rolls-Royce’s worldwide headquarters.
  • Harworth will continue to promote the remaining land at the Park for freehold or leasehold opportunities, which include the potential for a 95,000 sq. ft unit to be built on the vacant land within the Park.

Unit F is Sinfin Commercial Park’s largest existing unit, totalling 66,383 sq. ft.  Leading logistics provider KN has taken a 12-month lease on the unit to satisfy its growing contractual obligations in the Midlands, citing its excellent link to the principal road and motorway network.

The deal is the latest example of Harworth continuing to develop its income portfolio, with the Company last week announcing the purchase of Moorland Gate Business Park in Chorley, Lancashire for £4.5million, taking responsibility for 125,000 sq. ft of existing tenanted units alongside two acres of development land.

Following on from the deal with KN, Harworth is now promoting the remaining four plots at Sinfin Commercial Park, ranging from 0.68 acres to 4.5 acres, for secure open storage uses or Design & Build opportunities. This includes the potential for Harworth to build a 95,000 sq. ft unit for occupiers on Plot 8’s 4.5 acres. These plots are being promoted by retained agents Innes England and Knight Frank.

Tim Powner, Agency Manager at Harworth Group plc, commented “This is an excellent deal for Harworth Group plc.  Kuehne + Nagel is a blue chip global business and we are pleased that Unit F meets their need for well-connected space to fulfil their customers’ requirements. We now look forward to welcoming further occupiers to Sinfin Commercial Park in 2017.”