The investor has let its entire new build industrial unit in St Helens to Pyroguard UK, a manufacturer of fire-resistant safety glass for the construction trade.
Pyroguard, which is part of the Technical Fire Safety Group, has agreed to occupy the 62,516 sq ft Haydock 60 on a 10-year lease. The detached unit sits on a three-acre site adjacent to Pyroguard’s existing premises.
Haydock 60 was built by main contractor Barnfield Construction on behalf of Patrizia, a German real estate fund. The £3m project involved the demolition of a former warehouse on a prime roadside site at Haydock Industrial Estate, and the speculative development of the new industrial unit with offices.
Caisson Investment Management oversaw the letting as Patrizia’s asset manager. CBRE was the letting agent for Caisson, while B8 Real Estate and Davies Harrison were the joint agents. Pyroguard was represented by Matthews & Goodman.
James Ward, head of Northern region at Caisson, said: “The unit was speculatively constructed with the aim of filling a gap in much needed supply of modern new build units in prime locations such as this.
“The decision to speculatively construct this unit has not only been rewarded by the speedy letting to Pyroguard, but has also transformed the entrance to Haydock Industrial Estate, having replaced two smaller, second-hand units that were demolished to make way for the new facility.”
The deal marks the relocation of Pyroguard’s second UK-based factory to the new facility, said Pyroguard’s chief executive Neil Tilsley. “This forms a significant investment for us and demonstrates our ongoing commitment to the growth and success of the Pyroguard Group.
“Haydock 60 has equipped us with greater production capacity to provide a best-in-class service to our customers, while also bringing additional job opportunities to the surrounding local areas as we continue to grow our team.”
Haydock Industrial Estate provides industrial and commercial space off Junction 23 of the M6.