A large, modern, high specification warehouse distribution centre in East Sussex, formerly occupied by John Lewis Partnership, has been let.
Unit 4, Ashdown Business Park is a high spec 50,664 sq ft (4,707 sq m) warehouse premises on a 3.3-acre securely fenced site located at Maresfield, near Uckfield.
Property consultancy and agents Vail Williams acted for John Lewis Partnership (JLP) on the letting.
The property was deemed surplus to requirements and closed in 2022 and Vail Williams worked with landlord, property company LondonMetric Property plc, to market and assign JLP’s lease.
However, following significant interest, a deal was concluded on basis of a lease surrender by JLP and grant of a brand new 15 year lease on an improved market rent of just under £10 per sq ft with CPI reviews. The occupier is unnamed.
Designed and built for JLP in 2016 as a regional distributional hub in 2016, the detached, self-contained distribution warehouse has 21 loading doors, a large servicing yard, high quality office accommodation and parking for 93 vehicles.
Steve Berrett, Vail Williams Gatwick region Partner, said:
“We are thrilled to have completed this transaction, not only for John Lewis but also for the landlord. We received a great deal of interest in the unit and it was a complex transaction."
“It was very much a successful result for all parties – JLP were able to relinquish the liability and LondonMetric achieved a new lease on improved terms.”
Vail Williams, based in Crawley and Brighton and covering West & East Sussex, has been advising public and private sector organisations on their property needs throughout the Gatwick region for more than 25 years.
The firm’s full-service property advice includes commercial agency, investment and development advice, building consultancy, property valuation, planning, lease advisory, property asset management, business rates and occupier consultancy.