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Deals' wheels are continuing to turn as properties secured
The gears of industry are continuing to turn, as two manufacturing firms keep business moving at two properties in Portsmouth.
The biggest deal, with naval engineer Relay Engineering Ltd, sees the marine firm move on a 6,236-sq ft premises at Flathouse Road, close to the Royal Navy docks.
The company is preparing to take a 15-year lease of the property at what is believed to be 21,700 per year, but the details are yet to be finalised.
In a separate deal, sheet metal worker David Sheet Metal Ltd has taken premises at 10 Warrior Business Centre.
The 3,422sq ft property has been snapped up at 10,140 for six years, with a rent review on the third anniversary.
Both deals are being handled by Holloway, Iliffe and Mitchell, based in Acorn Business Park, Northarbour Road.
Director Derek Holloway said: 'Things are moving, but at a different level. People are doing deals. We're not trying to break records, we're just trying to put together a deal that's acceptable to both the tenant and the landlord.
'It is more office deals we see going on, but not much on the industrial front. I suppose Portsmouth has been a bit stronger than most on the industrial front, but we're still seeing more from service sector firms.
'Enquiries are certainly standing up, but not so much in pure manufacturing, it's more warehousing, storage and admin.'
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Weather for Portsmouth
Wednesday 23 May 2012
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