Capricorn Automotive are now much closer to successfully completing their relocation into a smaller headquarters facility in Basingstoke. BDT reported on the disposal of Units 1 & 2 Horizon on Kingsland Business Park, back in March 2018. The units were let to UL Ltd, the tenant in the adjoining property. Consequently Capricorn were offered a very short term lease back on half of the Horizon space, to enable them to commence a search for more permanent (and smaller) workshop premises of suitable stature.
This search, fronted by BDT, has just resulted in Capricorn signing into a new 10 year lease for Unit C on the Lutyens Industrial Estate, also on Kingsland. The fully refurbished unit comprises 21,000 sq ft, and has been let to Capricorn by Legal & General Assurance Limited. The rent agreed reflects £8.50 per sq ft, but the rent free incentive remains undisclosed. L & G are required to upgrade the power capacity into the unit in parallel with Capricorn’s bespoke alterations and fit out. Ultimately the project should be concluded by the end of August 2018.
Capricorn is a specialist supplier in the motorsport industry, with six production facilities in four countries. Their headquarters are in Dusseldorf, Germany, and their engineering expertise is used by Formula 1 teams, Tourings Cars, the Rally Dakar and the World Rally Car Championship, amongst others.
The acquisition, overseen by Richard Thomas of BDT, will enable Capricorn to reposition themselves in their market sector from a lower cost base, whilst also retaining a certain standard of corporate image.
– ENDS –
Contact for further information:
Baker Davidson Thomas
Telephone: 01256 840 777