LCP hands over keys to bespoke unit for Stiltz04/08/2020
Stiltz, the home lift company, has moved to new and bigger headquarters in the Black Country, just four years after relocating to the region.
It has moved to Building B, Prime Point, the multi-million pound speculative development on the Pensnett Estate, which is owned and managed by national commercial property and investment company LCP.
The relocation – just a few hundred metres from its previous home on the estate – has enabled it to move to a 36,000 sq ft bespoke-designed unit, which was built as part of the second phase of the development.
Paula James, LCP industrial lettings manager, said she was pleased that Stiltz had decided to stay within The Pensett Estate, signing a new 20-year lease. She handed over the keys last week, to enable the business to start the process of moving.
“It’s always good to work with an existing tenant to help them move to a bigger and better premises,” she said. “Stiltz’s move to Building B at Prime Point is testament to the quality of both the relationship we build with our tenants and also the quality of Prime Point.
“Offering the company the opportunity to design their new headquarters to its exact specification was important and demonstrates how flexible we as a commercial property operator can be with prospective tenants.”
Mike Lord, chairman and CEO of Stiltz, said: “Stiltz has been with LCP since 2016, but due to strong growth needed extra space well before our lease expired. LCP was able to offer a new, bespoke building, allowing us to surrender our old building lease early. The whole project has been managed really professionally and made as easy as possible for us. The finished building has far exceeded our expectations, both in terms of quality and flexibility for our future growth.”
Work on phase two of Prime Point started in 2019 and comprises 100,000 sq ft of industrial units. As well as Stiltz Ltd, TotalKare, which specialises in lifting and testing equipment for heavy duty commercial vehicle workshops, has committed to taking Block G1, a 24,500 sq ft building, leaving just one 24,505 sq ft building available.
The Black Country Local Enterprise Partnership (BCLEP) has been supporting LCP with the development. Prime Point sits within DY5, Dudley’s business and innovation enterprise zone, which qualifies occupiers for benefits, including up to £55,000 a year business rate discount over a five-year period.
The Pensnett Estate is one of the largest secure business estates in Europe, and home to 160 businesses in over 2.4 million sq ft of commercial property.