Property and asset management company, FI Real Estate Management (FIREM), has completed a major refurbishment of Units 7 and 15 at its Severn Bridge Industrial Estate ahead of occupation by European stainless steel stockholder, Stappert, and UK shipping agent, Armitt.
The refurbishment of Unit 7 took place over 10 weeks with significant renovations including full external and internal redecoration, a new roof and LED lighting throughout.
New tenant of Unit 7, Stappert, also required bespoke refurbishments including a floor load bearing test, a fitted crane, a new roller shutter access door and a conversion of the internal office layout to suit the day-to-day business operations.
The refurbishments were completed following a CAPEX programme of over £550k, completing the unit to the highest standard in preparation for Stappert to occupy the premises.
Stappert secured the tenancy with FIREM to increase warehousing provision in the UK and relocate offices to the region, increasing their presence in the area. New occupier of Unit 15, Armitt, sought additional storage premises to add to their growing portfolio across the country.
FIREM has also secured a further five-year lease with established tenants, Welding Engineers (Hertford) Limited, to occupy over 4,000 square feet at Severn Bridge.
Tim Knowles, Managing Director and Founder of FI Real Estate Management commented: “It is a pleasure to support growing businesses by investing in our assets to provide the highest quality spaces for our tenants to thrive, demonstrated by the bespoke requirements fulfilled for Stappert in Unit 7.
“We’re experiencing continued demand for high quality industrial units across our portfolio so it is therefore no surprise that we secured new tenants for our refurbished unit at Severn Bridge in such a short space of time. We are committed to growing our presence in Caldicot and across South Wales and will be investing in expanding our portfolio here in the coming months.”
