Red Kite has secured a new 10 year lease at a rent of £427,500 pa with Stapletons, the largest distributor of passenger car tyres in the UK. (http://www.stapletons-tyres.co.uk/home.asp)
Protracted negotiations started last year with Crest Medical on a surrender and a regrant on a new 10 year term to Stapletons. Crest Medical have now taken new premises in the same area and released space for Stapletons to provide a central servicing hub for their distribution network.
Lewis Ellis acted on behalf of Red Kite, B8 Real Estate acted on behalf of Stapletons and Mason Partners LLP acted on behalf of Crest Medical. It was a complicated deal involving establishment of schedules of dilapidations and attracted negotiations over Crest Medical's new unit. We are pleased to confirm that this deal has now been completed.