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HAMMER DISTRIBUTION NAIL INTEC LEASE RENEWAL The owners of the Intec Business Park in Wade Road, Valad Property Group, have announced the reletting of Unit 1 on the estate to Hammer plc, one of the longest standing specialist storage distributors in Europe. A new 10 year lease with a break clause option after the 5th year of the term has been agreed between the parties for the 20,000 (1,860 sq m) building known as Intec 1. The rent payable is approximately £10.00 per per annum and the parties are jointly investing funds to upgrade the air conditioning system and other building services. Hammer were known to be considering a relocation quite closely, but decided to opt for a renewal on attractive terms that were proposed by Valad and their agents, bdt. Valad have also confirmed the appointment of contractors to commence a £500,000 refurbishment programme elsewhere on Intec. The front section of Building 2 will be extensively upgraded and modernised in line with Valad’s reputation for investing in their property assets and for their hands on management. Their portfolio manager for Intec, John Vincent, stated …..”We will be expecting Intec to take on a new lease of life and to attract more new occupiers and investment to the town. In the meantime we are very pleased that Hammer will remain as one of our major tenants”. Latterly the landlords have completed a letting to Dayers Fine Foods who have reopened the bistro/cafeteria within Intec 2, supplementing the gymnasium facility which is already on site. Richard Thomas at BDT commented …..”Fundamentally Intec provides versatile and cost effective accommodation in a good location. The refurbishment programme will allow us to offer a product which is rather different to some of the more traditional office stock. Valad have committed to this investment where others before them have largely avoided the issues”. – ENDS – Contact for further information:Richard ThomasbdtE-mail: 01256 840 777


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