Business
Pre-let of industrial unit
Pre-let of industrial unit.
About this update from Artisanal Spirits Company Plc
[{"type":"text","content":"\n Artisan (UK) PLC\n08 May 2007\n\n8 May 2007\n\n\n\n Artisan (UK) plc\n\n\n Major pre-let\n\n\n\nArtisan (UK) plc ('Artisan' or 'the Group'), the residential house builder and\ncommercial business park developer announces progress in developing its property\nactivities with the pre-let of a unit at its Colmworth Business Park.\n\n\nThe Board has announced separately today its strategy of retaining selected\nproperties from its development portfolio as investment properties and the\nfinancial implications arising.\n\n\nArtisan's Chief Executive, Chris Musselle, commented: 'Artisan is very pleased\nto announce that a major forward let of a 36,600 ft2 industrial unit has been\nsecured. The occupier is Black Teknigas Limited a subsidiary of Watts\nIndustries Europe BV, both companies to be joint lessees.'\n\n\nThe agreement to lease is in respect of a bespoke unit at Colmworth Business\nPark, St Neots, due for build completion early 2008. There is provision for the\ndevelopment of an extension to this unit of 18,500 ft2 at the tenant's option\nover the next 5 years. The Board are satisfied that this opportunity fulfils\nour criteria for retention as an investment property unit and this unit will be\nretained by the Group as its first investment property. For Artisan, the\nsuccess in securing this agreement effectively concludes the Colmworth Business\nPark, with office development continuing at the adjacent Fenice Court.\n\n\nDirector of Black Teknigas, Dave Martin said: 'Following our company's\nacquisition by Watts Industries last year, growth and future prospects are\nexciting and employment is increasing. Black Teknigas is delighted that\nagreement has been reached with Artisan to build a new, bespoke factory for our\nrapidly expanding business. St Neots has proved an excellent area for employment\nand recruitment and the company has built up a loyal and stable workforce over\nthe last eighteen years. Artisan was chosen for their excellent, well developed\nsite at Colmworth Business Park and their strong regional reputation.'\n\n\n\nArtisan (UK) plc\nChris Musselle Chief Executive 01480 436666\n [email protected]\n\nBrewin Dolphin Securities Limited Nominated advisers 0121 236 7000\nIfor Williams\n\nBankside Consultants Financial PR advisers 020 7367 8888\nSimon Rothschild 07703 167065\nLouise Mason\n\n\n\nCompany websit...