Certikin International takes 125,000 sq ft pre-let at Tungsten Park
Suzanne Lovell
The UK’s largest manufacturer of swimming pool equipment has taken a pre-let on a new 125,000 sq ft warehouse in Witney to be developed by Tungsten Properties.
Certikin International, has taken a 10-year lease at £6.63 per sq ft and is the first occupier to surface at the proposed 490,000 sq ft industrial scheme to be called Tungsten Park.
The 24-acre site in Downs Road was bought this year by Tungsten from Oxfordshire Land for £9.845 million.
The site, previously owned by a consortium of housebuilders: Persimmon, Bovis Homes and Bloor Homes, is to the west of Witney, 500 metres from a new junction of the A40.
It already had outline planning permission for B1c, B2 and B8 office, industrial and warehouse development and Tungsten Properties has now had its reserved matters application approved by West Oxfordshire District Council.
Certikin International will move from Station Lane Industrial Estate in Witney where it has been based since 1990.
Neil Murray, managing director for Certikin International, said: “Having outgrown our existing premises, we knew we needed to move to a bigger, better site but we were determined to stay in Witney with its excellent infrastructure and pool of labour.
“As well as being an ideal location, Tungsten Park offers us the space and enhanced facilities that we need to suit all the complex needs of our growing business.
"This, along with the improved access provided by the new A40 junction, should improve our operational efficiency and secure Certikin’s future as well as that of our 130-strong workforce. We hope to be in a position to move into the new building by the end of 2020.”
David Mole, associate director, Tungsten Properties, said: “Witney is a market starved of warehouse and office supply which has strong demand and needs to reduce out-commuting.
"We have had numerous discussions with local companies including many hi-tech firms which all confirm that their businesses are thriving and, through a combination of expansion and lease events, are now in discussions to take new space at Tungsten Park, Witney on a design and build basis.”
Phase One of Tungsten Park is seven units totalling 289,442 sq ft and ranging in size from 10,000 sq ft to 125,000 sq ft including Certikin International’s new headquarters.
Phase Two will be for up to seven more units totalling 200,000 sq ft. The purchase of the land represents the largest deal so far for Tungsten Properties.
Funding was provided by clients of Mattioli Woods plc, a specialist wealth management and employee benefits business, its second deal with Tungsten.
Carter Jonas and VSL acted for Tungsten Properties while Bidwells acted for Certikin International.
Image: Thames Valley Property