Midlands-based property investor, Colmore Capital, has successfully let its 33,617 sq ft distribution unit at Swift Valley, Rugby, to sustainable operator Resource Secure Recovery Limited.
Founded in 2014, Resource Secure Recovery is a rapidly expanding business which offers reuse solutions to the food sector. Now a nationwide operation, it processes around 30,000 tonnes of food products equating to 10% of the surplus produced by many of the biggest and best-known supermarkets and businesses operating in the UK.
The company’s third location in the UK, Swift 34’s prime Golden Triangle position and comprehensive refurbishment provided the perfect new base for the business’s expansion.
The Colmore Capital team worked closely with Resource to agree the terms prior to completion of the refurbishment, allowing for efficient agreement of terms to enable their new customer to meet a tight deadline to deliver and service new contracts to major household names in the grocery sector.
The significant investment in the property included brand-new resin surfacing to the warehouse floor, LED lighting throughout, comprehensive re-coating of the roof, new roof lights and dock levellers. The brick-built front offices were also refurbished to provide a bright and modern working environment with the kitchen and WC facilities also upgraded. Further improvements to the building’s energy efficiency raised the unit’s EPC score to B.
Ian Robb, Managing Director of Resource Secure Recovery Ltd, said: “We were extremely impressed with the quality of Swift 34, and we are confident that it will serve as a crucially important location for our business’s strategic growth.
“Whilst the prime location of the property was a key factor for us, it was also incredibly important that we found the right quality of space as we aim to handle higher volumes supporting the UK’s food sector businesses achieve their sustainability goals.
“The provision of high quality and newly refurbished office space, the parking and breakout we need for our staff, as well as a high specification warehouse with new flooring and lighting, all came together to make Swift 34 the obvious choice for our business. Both Colmore Capital and the team at Drake Commercial were instrumental in expediting the letting process, which allowed us to hit a key deadline for our business.”
Colmore Capital is now seeking an investor to purchase the fully refurbished and leased-up property, which is situated in one of the most accessible and desirable locations in the UK with the M1, M6 and M69 motorways on Swift 34’s doorstep. Alongside the warehouse, Swift 34 offers 4,500 sq ft of office space, a large car park, yard and secure loading bay serviced by four dock levellers and two-level access doors.
Swift Valley Park continues to be one of the most accessible and successful logistics parks in the Midlands, attracting forward-thinking, innovative, and rapidly expanding organisations that have sustainability at the heart of their ethos. The new letting represents a unique opportunity for investors to acquire a newly refurbished distribution unit let for a 10-year term to a highly sustainable tenant.
Guy Revell, Investment Associate at Colmore Capital, said: “After acquiring Swift 34 in November 2020, we quickly undertook a comprehensive refurbishment with Tandem Contracts and the speed of this new letting speaks to the quality of the finished product, as well as the strong fundamentals of the property and location.
“We send a warm welcome to Resource Secure Recovery and are truly glad to have been able to complete this deal in time to enable them to begin servicing their new contracts, with all parties having worked extremely hard to get this deal across the line.
“At Colmore Capital we are proud to have provided another great workspace, carefully aligned with market demand, which has facilitated a growing business’s investment in a new long-term home. We undertake extensive pre-acquisition research and due diligence for all new assets, which gave us the insight and confidence in the local occupational market to deliver the right product. We are always looking for new investment opportunities and would welcome any introduction to assets like Swift 34.”
Colmore Capital is now bringing Swift 34 to market, having completed their plans for the refurbishment and tenancy ahead of schedule. For any enquiries relating to the unit, please contact Oliver Forster or Tom Nock at CRBE at Oliver.Forster@cbre.com or call 0121 616 559. For more information on Colmore Capital, please visit: www.colmorecapital.co.uk.