PAG clinches Northgate letting
Business services firm Rentokil Initial has agreed to lease 7,000 sq ft at the site on White Lund Industrial Park in Morecambe acquired by Property Alliance Group last April.
The developer and investor bought Northgate Business Park from OCS Group in a sale-and-leaseback deal valued at £2m. The self-contained site comprises three buildings and is adjacent to Lancaster Retail Park, close to transport links such as the A683 link road.
PAG is currently refurbishing the development to offer grade A office suites ranging from 2,500 sq ft to 19,000 sq ft, as well as two industrial units of 7,000sq ft and 26,500 sq ft.
Rentokil is to occupy the 7,000 sq ft unit for five years, under the terms of its lease.
Ian Hunter, director at PAG, said: “We’ve been investing in Morecambe for several years through the acquisition and refurbishment of more than 97,000 sq ft of industrial space on the White Lund Estate. It’s a scheme that continues to attract and retain companies from a variety of sectors thanks to its central and accessible location.
“The addition of high-quality office space at Northgate Business Park helps set the site apart, providing more choice and flexibility for local businesses, including the opportunity for bespoke refurbishments.”
White Lund Industrial Estate is the district’s main industrial area, offering a total of 247 acres between Lancaster and Morecambe. Other occupiers include Vantage Toyota, Screwfix, Howdens Joinery and Arnold Clark.