Artisan (UK) PLC
08 May 2007
8 May 2007
Artisan (UK) plc
Major pre-let
Artisan (UK) plc ('Artisan' or 'the Group'), the residential house builder and
commercial business park developer announces progress in developing its property
activities with the pre-let of a unit at its Colmworth Business Park.
The Board has announced separately today its strategy of retaining selected
properties from its development portfolio as investment properties and the
financial implications arising.
Artisan's Chief Executive, Chris Musselle, commented: 'Artisan is very pleased
to announce that a major forward let of a 36,600 ft2 industrial unit has been
secured. The occupier is Black Teknigas Limited a subsidiary of Watts
Industries Europe BV, both companies to be joint lessees.'
The agreement to lease is in respect of a bespoke unit at Colmworth Business
Park, St Neots, due for build completion early 2008. There is provision for the
development of an extension to this unit of 18,500 ft2 at the tenant's option
over the next 5 years. The Board are satisfied that this opportunity fulfils
our criteria for retention as an investment property unit and this unit will be
retained by the Group as its first investment property. For Artisan, the
success in securing this agreement effectively concludes the Colmworth Business
Park, with office development continuing at the adjacent Fenice Court.
Director of Black Teknigas, Dave Martin said: 'Following our company's
acquisition by Watts Industries last year, growth and future prospects are
exciting and employment is increasing. Black Teknigas is delighted that
agreement has been reached with Artisan to build a new, bespoke factory for our
rapidly expanding business. St Neots has proved an excellent area for employment
and recruitment and the company has built up a loyal and stable workforce over
the last eighteen years. Artisan was chosen for their excellent, well developed
site at Colmworth Business Park and their strong regional reputation.'
Artisan (UK) plc
Chris Musselle Chief Executive 01480 436666
email@artisan-plc.co.uk
Brewin Dolphin Securities Limited Nominated advisers 0121 236 7000
Ifor Williams
Bankside Consultants Financial PR advisers 020 7367 8888
Simon Rothschild 07703 167065
Louise Mason
Company website: www.artisan-plc.co.uk
www.artisandevelopments.co.uk
This information is provided by RNS
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