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Edinburgh, 2 May 2013 - UK sofa retailer CSL, has secured a major new warehouse at Pyramids Business Park in West Lothian, to support its rapid expansion into the Scottish market.
The Warrington-based business, which currently has 23 stores nationwide, has signed a five year lease with landlord PM Mercury Holdings, a Joint Venture between Funds managed by Mountgrange Investment Management LLP (‘Mountgrange’) and pan-European institutional investor Patron Capital (‘Patron’), to occupy 60,481 sq ft of the eastern part of the main warehouse accommodation in the Pyramids Business Park. The rent has been agreed at a rate of £166,322.75 per annum.
The newly acquired warehouse space will supply CSL’s newly opened store in Paisley to the West of Scotland, and forthcoming new stores in Scotland. Located on the M8 between Edinburgh and Glasgow, the warehouse at Pyramids Business Park is ideally situated as a distribution and storage unit for the two new stores.
Following the occupation of this warehouse in Scotland, the business now operates five distribution centres, covering all of its UK stores.
David Hodgson, Head of Property at CSL, says: “This warehouse acquisition is part of our wider strategy to expand our presence across Scotland and will allow us to support our growing portfolio of stores in the region.”
David Cobban, Director at Savills who advised CSL, adds: “The space at Pyramids Business Park offered high quality and flexible distribution space at a competitive rent in an ideal location and was therefore a perfect choice for CSL to service and develop its Scottish network. Furthermore, the proactive approach adopted by the landlord ensured the deal was concluded in under two months.”
Set in ninety three landscaped acres, The Pyramids Business Park provides 19,237 sq m (207,067 sq ft) of office accommodation and 12,815 sq m (137,941 sq ft) of distribution space. The environment provides first class working conditions with on-site facilities including its own gym, restaurant and dedicated car parking.
The Pyramids Business Park is also home to Plexus Corp, Inland Revenue, DRS, Redeem and Quintiles.
CSL Lounge Suites Limited was represented by Savills. Jones Lang LaSalle acted for PM Mercury Holdings.
Kirsty Palmer, Associate Director at Jones Lang LaSalle commented: “Pyramids Business Park provides CSL with the best possible location of serving its two new stores to the East and West. The decision by a fast growing business such as CSL to establish its primary Scottish distribution centre in West Lothian should provide a positive influence on other businesses considering a move to the area.”
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