Gerald Eve - Industrial Letting - Crayford, South East London

Date: 10 Sep 2008

Leading prestige accident management company Accident Exchange, advised by Gerald Eve, has acquired a 35,000 sq ft warehouse on Ashtenne's Optima Park in Crayford, south east London.

The warehouse is Accident Exchange's first in the South East, adding to depots in Coleshill, Warrington, Belfast and Glasgow. Gerald Eve is now working to identify a second similar sized warehouse to cover the south west of London area for the West Midlands-based business.

The Optima Park warehouse was completed speculatively less than six months ago and has been taken by Accident Exchange on a new 15-year lease.

Mark Trowell, industrial partner at Gerald Eve, who are retained agents for Accident Exchange, says they looked at half a dozen sites in the area. "A key attribute in Optima Park's favour was the existing good relationship between Accident Exchange and Optima Park's landlord Ashtenne," he says. "Ashtenne is part of the Warner Group who are the landlord for Accident Exchange's HQ at Coleshill in Warwickshire.

"Although the good current landlord and tenant relationship was important to the deal, Ashtenne's flexibility in meeting Accident Exchange's specific needs was also key to progressing the acquisition."

Accident Exchange, the UK's largest prestige vehicle accident management business, has its headquarters at the 220,000 sq ft Alpha 1 building at Hams Hall, Coleshill. Gerald Eve advised on the acquisition of the building on a freehold basis, its fit out and subsequent sale and leaseback.

Ashtenne handled all negotiations direct in order to facilitate a swift and satisfactory deal for both parties. Scott Edgar, Ashtenne asset manager, comments: "This letting underlines that, despite difficult market conditions, good quality stock will still attract deals with the right parties involved.

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