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Muckle advise wholesale and property group on expansion

7th Nov 2019 | Real Estate
Muckle advise wholesale and property group on expansion

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.

Stronger revenue

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.”

For more information on this development or our real estate work please contact Will McKay on 0191 211 7943 or email [email protected].

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