Lawyers in our Real Estate team have advised Kans and Kandy on their expansion as they move into new, more profitable premises.
The group, which operates Kans and Kandy Wholesale – a wholesaler of health and beauty products, and Kans and Kandy Properties – its industrial, commercial and residential property development arm, has relocated to Durham’s Belmont Business Park, having bought the former Godfrey Syrett warehouse.
The move, which expands the group’s extensive property portfolio, follows the long term lease of its former base – 135,000 sq. ft warehouse at Foxcover Distribution Park, Seaham – to Biffa Polymers.
Both deals have been supported by our real estate lawyers, alongside industrial property consultants at Newcastle-based HTA Real Estate.
Peter Razaq, chairman at Kans and Kandy Group, said: “We are delighted with the move the new premises, which creates stronger revenue generation opportunities for the group and supports our continued growth and expansion plans.”
HTA Real Estate and ourselves are now working on behalf of the group to secure a commercial tenant for the 52,678 sq ft of surplus warehousing space at its new Belmont home, which is currently undergoing refurbishment.
Strategic and commercial advantages
Will McKay, partner, added: “We have acted for Kans and Kandy for many years, helping them to develop their property portfolio and wholesale businesses, and we are delighted to have supported them in securing new premises which present some excellent strategic and commercial advantages for the group.”
Nick Atkinson, director at HTA Real Estate, said: “Kans and Kandy are actively engaged in the North East commercial property market and we are very pleased to have worked with them to facilitate the letting to Biffa.”
“Belmont 1, which will be available later this year, will offer dock and level access loading, an extensive service yard, two-storey office space and plenty of parking. The refurbishment works include a new roof, insulation and new mechanical and electrical services.”