Meggitt Plc, Gelders Hall Road, Shepshed (Acquisition)

Rotherhill has completed on their latest acquisition; a purchase from and leaseback to Meggitt Plc of their facility in Shepshed, Loughborough.

The building extends to approximately 48,000 sq ft on a total site area of approximately 3.85 acres. The land area is split with a 1.4 acre parcel on a raised plateau currently used for car parking, but suitable for future development.

A 3.25-year leaseback has been agreed to enable Meggitt to refurbish and relocate to a new facility nearby.

The building is currently comprehensively fitted out with a specialist precision engineering plant and equipment used for defence and aviation contract fulfilment. Detailed negotiation of how the building will be left at lease expiry was required.

Ed Jeffrey comments: “We are very pleased to have completed the purchase of the Meggitt facility. It follows a number of months of negotiation ensuring that the tenant’s relocation leaves the building in a satisfactory condition.

The building is in an excellent location less than 1.5 miles from Junction 23 of the M1. Following Meggitt’s relocation we look forward to refurbishing the building and delivering much-needed new development to the wider Loughborough area.”