North 20, Walworth, Andover deal completes in two weeks
25 May 2016
Acti Laboratories have acquired North 20, 27B North Way, Walworth Industrial Estate, Andover, following a lengthy search for suitable property for their ongoing expansion.
The building, which was substantially refurbished in 2015, had become vacant after the previous tenant had gone into receivership. As a result, the Landlord, Rosedale Property Holdings Ltd carried out a cosmetic refurbishment, and the building was re-offered to the market with effect from March 2016. Terms were agreed with Acti Laboratories in mid April and the deal was completed by the end of April.
John Miller, of Acti Laboratories said "We are delighted to have been able to conclude this transaction with the Landlord as quickly as we did. The building is a great addition to our existing Walworth Estate site and our ongoing future growth in the years to come".
Andrew Newman of Letting Agents Hollis Hockley said "The renaissance of Walworth Industrial Estate continues, with this letting to another expanding Andover based company. This follows this firm's success in attracting J&J Carter and Ocado to Walworth in recent years and the speed of the transaction is a credit to both parties, their legal consultants and Test Valley Borough Council Estates and Legal Team. Supply of good quality industrial stock is now very limited and occupiers should be aware that this is likely to lead to rental increases over the coming months.''
Joint Letting Agents were CBRE and Hollis Hockley on behalf of the Landlords Rosedale Property Holdings Ltd.