HTA has let a 38,000 sqft industrial unit at New York Way, North Tyneside to Nolato Jaycare on behalf of Blue Marble Asset Management.
The medical packaging company has agreed to a five-year lease on the property, which was on the market at a quoting rent of £170,000 per annum.
The property is located in a thriving commercial area close to Silverlink Retail Park and Cobalt Park, and is adjacent to the A19. The detached, standalone unit offers high quality accommodation with two storey offices, a secure fenced yard and 42 car parking spaces and the quoted rent was £170,000.
The property was acquired by CRT Property Investments Ltd in December 2014. Birmingham-based real estate asset management company, Blue Marble, will continue to asset manage Unit 1 for CRT.
Shaun O’Brien, property investment and development director for CRT, said: “We’re extremely pleased to have signed a lease agreement with Nolato Jaycare.
“The unit is a fantastic building with good access to the nearby national road network. It is easy to see why they chose this location.
“We would like to thank Blue Marble and our local agents for their great work. As always it has been a pleasure working with the team.”
Tim Matthews, Chief Executive of Blue Marble added: “Our pro-active asset management strategy has worked well for our client. The premium we took for the surrender of the lease has covered the empty period and we have secured a better rent from the new tenant, reflecting the improved market conditions.”
Nolato Jaycare is a branch of Nolato, who produce polymer materials for customers within technology, pharmaceuticals and other selected industrial sectors.