A Staffordshire business park is now fully leased for the first time after a metal supplier signed an agreement on larger premises.
Walsall-based Offshore Stainless Supplies Ltd, which supplies stainless steel and nickel alloys to customers around the world, has entered into a five-year lease with LCP for new premises at Burntwood Business Park Zone 3.
The 35,891 square foot unit – one of the largest units in the business – will allow the 45-person company to prepare for growth and potentially create more jobs.
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The move comes after the company – which is the UK’s largest converter of stainless steel plates – was acquired by Blackburn-based Steel Dynamics.
The deal will create a combined business with revenues of over Â£ 35million and over 100 employees.
Ian Griffiths, of Offshore Stainless Supplies, said an upgrade was underway before the company moved to the new site at the end of August.
He said: âWe are in a great position to grow the business and are busy, so we were looking for a new unit for a few weeks.
âAs a local business, we were keen to stay in the area for the sake of the team. It is also a good location for highways, which is important when goods need to be shipped to customers on a regular basis. “
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Nick Bryson, Asset Manager at LPC, an investment and commercial real estate firm, said: âWe are experiencing very high demand for industrial units of all sizes at Burntwood Business Park and receive several requests every week. We own and operate Zone 3 and are delighted to see that it is now fully leased. “
LCP owns 775,000 square feet in Zones 2, 3 and 4 – with a single 21,000 square foot unit now available in Zone 4.
The new lease means that LCP Zone 2 and Zone 3 holdings are both fully leased for the first time.