Warner Estate Holdings PLC has confirmed, on behalf of its Radial Distribution Fund, a joint venture with Bank of Scotland, the extension of its Antalis Ltd distribution unit at Interlink Park in Leicestershire.
Set to complete in late October 2007, Warner Estate is extending the 21,089 m² unit to create a further 5,017 m², including 9,500 ft² of new two story office space. In securing this extended space, Warner Estate has agreed with the tenant to extend the current lease term by 5 years, to expire in November 2023.
The property is currently let to Antalis Ltd, one of Europe's leading trade distributors of paper, envelopes, packaging and visual communication products. They offer flexible and customisable paper services, with over 12,000 products in stock from 17 local warehouses in the UK, as well as a presence in 32 countries in Europe.
Michael Stevens, Property Director at Warner Estate comments: "These plans are very much in line with Radial's stated objectives of maximising opportunities to enhance returns through active asset management. We are committed to working closely with our tenants to respond to their business needs and we are delighted to have been able to unlock this space to suit Antalis' needs."
Located off the M1 at Junction 22, Interlink Park is a premier industrial warehouse development within the Golden Triangle.
The Radial Distribution Fund was established in 2003 as a joint venture with Bank of Scotland, in response to the significant changes occurring in the distribution and logistics markets. Radial owns ten sites with over 214,918 m² under management.