Developing a 71,000 sqft extension

Logicor constructed a 71,840 sq ft extension to unit to support IAC’s continued expansion of their operation at Coleshill and secure a long term lease commitment

Overview

Logicor constructed a 71,840 sq ft extension to unit to support IAC’s continued expansion of their operation at Coleshill and secure a long term lease commitment.

Background

Logicor acquired this unit as part of a portfolio with a sublease to International Automotive Components (“IAC”) an interior trim manufacturer to the automotive sector. IAC’s operation was continuing to expand having won more business from Jaguar Land Rover (“JLR”) with this location ideally suited to them due to its proximity to the JLR assembly plants.

Solution

Logicor were able to work with IAC to collapse the head lease, taking on IAC as a direct tenant, and simultaneously agreeing to construct a 71,840 sq ft extension to the unit allowing them to maintain their operation in their preferred location whilst supporting their continued expansion. The unit was constructed whilst the IAC operation from the existing facility remained fully operational and continued to allow IAC to service their just-in-time contracts for JLR throughout.

Result

The building extension was completed successfully and allowed IAC to further invest in their operation from this facility. Logicor created significant value by increasing the size of the property and securing a long term lease from IAC following the completion of the extension works.