Lambert Smith Hampton (LSH) has secured a deal with a global leader in plastic automotive components to extend its facilities.
Acting on behalf of landlords Euro Property Investments, LSH secured a five-year lease with Plastic Omnium on a 40,000 sq ft unit at H200, Hams Hall Distribution Park, Coleshill.
Plastic Omnium already has two manufacturing facilities amounting to 200,000 sq ft at the site and, after the continuing success of the automotive industry, the company was keen to expand.
Deal completed in just eight weeks
Gemma Butler, Surveyor in the Industrial Agency team at LSH in Birmingham, said the unit was under offer within a week of instruction and the deal was completed in just eight weeks. Simon Norton at Colliers acted for Plastic Omnium.
She said: “Plastic Omnium is a major tier one supplier to automotive manufacturers such as Jaguar Land Rover and already has a large presence at Hams Hall Distribution Park. Following recent contract successes, the company was keen to increase its manufacturing facilities and we were able to negotiate a five-year lease.
“Due to the shortage of quality space available and the increasing demand as the economy improves, incentives have been hardening to the point where they are now non-existent. Void periods are reducing, as demonstrated here with the property coming under offer within just one week of our instruction.”
Plastic Omnium is the world leader in automotive components, automotive fuel tanks and systems, and waste container solutions for local communities and companies. The company employs around 21,000 people and operates 107 plants and 14 R&D centers in 29 countries around the world.