Latest commercial property news from Lambert Smith Hampton

LSH lease surrender allows car dealer to expand

21/01/2014

Motor retailing group Parkway Volkswagen is broadening its operation at Northampton’s prestigious Riverside Business Park after a deal completed by Lambert Smith Hampton (LSH).

The Northampton office of LSH acted on behalf of Western Power Distribution - the electricity distribution network operator for the Midlands, South Wales and the South West - to surrender the lease on a 6,835 sq ft unit in Museum Way, allowing the car dealership to purchase the property.

Job opportunities on the horizon as company expands

Parkway Volkswagen is taking on the additional unit, which is located opposite its existing premises on the business park, after planning permission was granted for the change of use of the new property from B1 industrial to allow a workshop, car servicing, repairs and MOT Centre. The company is now planning to expand and create local job opportunities.
 
The hybrid unit, which is fitted to a high specification, includes an industrial area, offices, and a large, secure self-contained yard.
 
Adam Haley, Senior Surveyor at LSH in Northampton, said: “We were pleased to support and advise Western Power Distribution on the lease surrender, which has allowed for Parkway Volkswagen to expand its operation in the East Midlands.
 
“The change of use has enabled the car company to take advantage of one of the last remaining areas of land on Riverside, one of Northampton’s premier trade and industrial locations.”
 
Duncan Sands, Group Operations Director of Parkway Volkswagen, said the extra space at Museum Way means it will be able to offer new services to customers and create six new jobs. Anthony Filer & Co acted on behalf of the landlord. 

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