Newstar completes more than a deal at Edmonton Trade Park

Newstar, advised by joint-agents Savills, CBRE and Glenny, has completed its first letting at Edmonton Trade Park, Advent Way, London, N18, to Screwfix, on the same day the site reached practical completion.

Screwfix has taken Unit 1 comprising a self-contained trade counter unit, fronting the A406 North Circular Road and totalling 7,998 sq ft (743 sq m). The UK’s largest direct and online supplier of trade tools, accessories and hardware products, has taken the unit on a ten-year lease at a rent of £13.50 per sq ft (£145 per sq m).

The site contains nine further units ranging in size from 3,100 sq ft (288 sq m) to 9,085 sq ft (844 sq m). Acquired by Newstar as part of a portfolio of industrial properties from Chancerygate at the end of last year, the new development recently achieved practical completion. Situated on Advent Way, the buildings are positioned adjacent to Big Yellow self storage and opposite IKEA, Tesco, Mothercare and Wickes Extra, with Carpetright, MFI and Allied Carpets nearby.

Dominic Whitfield, associate of Savills industrial agency team, says: “As a trade counter, the property benefits from its excellent position overlooking the North Circular with its passing traffic flow of approximately 90,000 vehicles per day. There has been a great deal of interest in the other nine units and we expect to announce further lettings very shortly.”