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Consultant successfully assigns 25-year lease on behalf of cosmetics business
Manchester, 18th March 2014 – The North West team at property consultant JLL has let a 68,613 sq ft industrial unit in Skelmersdale, West Lancashire to valve manufacturer Dresser Flow Solutions (DI UK Ltd) on behalf of cosmetics sales and marketing business Vivalis.
JLL’s North West head of industrial, Daniel Burn, and lease advisory director Duncan Campbell successfully transferred Vivalis’ existing 25-year lease at Grimrod Place to the new occupier, allowing the cosmetics firm to exit its current agreement and relocate.
Dresser, which is the manufacturing arm of Texas-headquartered GE Corporation, has signed-up to move into the space at a passing rent of £265,000 per annum. The business will relocate from its current base at Skelmersdale’s East Gillibrands Industrial Estate.
Daniel Burn, director - industrial and logistics at JLL, said: “Assigning an existing lease to a new occupier is rarely a straightforward process and this was a particularly complex requirement which required considerable input from JLL’s lease advisory experts. The deal has ensured the best outcome for both businesses and enables Dresser to upgrade its accommodation to a modern, fit-for-purpose space within Skelmersdale.”
Dresser Flow Solutions was advised by Darren Hill, Senior Surveyor at CBRE in Liverpool who commented: “With the supply of good quality existing buildings in the North West continuing to be quickly eroded we were pleased to secure these premises for our client with all parties working together to conclude what was a somewhat complicated deal within a relatively short period of time.”