28/01/2025
News
A Leicester-based worldwide logistics firm has looked to the London home counties in acquiring additional premises in Hertfordshire, with Eddisons advising for the firm to negotiate and secure a new lease on 5,000 sq ft premises in Hemel Hempstead.
Pinnacle International Freight, based in Broughton Astley, appointed our department having identified the South East as a key strategic location in which to extend its international freight forwarding & third-party logistics (3PL) operation for its new customer business.
The newly leased premises on Eastman Way, Hemel Hempstead, were recommended by Eddisons following our extensive research of the South East market and in conducting initial negotiations on a number of potential options to meet its client’s requirements.
Lease negotiations with the landlord’s representatives at Eastman Way - Brasier Freeth - saw us recommend a Schedule of Condition as part of the new lease. This was successfully secured, with our building surveying department commissioned to undertake and produce it.
Additionally, we deployed our own transport planning and design team to achieve the formal Change of Use Class required for the Eastman Way premises from its previous use as Class B2, general industrial use, to Class B8, storage & distribution, in order to meet Pinnacle International Freight’s operational needs - all within eight weeks.
Gavin Newman, Operations Director of Pinnacle International Freight, confirms that, following the completion of the lease acquisition earlier this month (January), the new Hemel Hempstead premises are scheduled to be operational in March.
Speaking about the deal, Gavin Newman, said, “Having a South East presence is a vital part of our strategic offer and, in identifying Hemel as our ideal location, we knew our brief was exacting.
“While this could have been seen as too limiting by many agents, Eddisons responded positively - and creatively - to the brief. At Eastman Way, we have an ideal location and set of premises to access key locations such as Heathrow and still have connectivity to our Leicester headquarters.”
Simon Parsons, Director of Eddisons, who led the firm’s agency and professional services work on behalf of Pinnacle International Freight, added, “Our brief was robust but the discipline of it was welcome in focusing the minds of all parties involved in all aspects of the transaction.
“To be able to call on a range of Eddisons’ in-house professional services beyond agency was extremely beneficial in helping push the deal through in short order.
“In Eddisons now being appointed by Pinnacle Freight International as its retained property advisors following the conclusion of the deal, we are looking forward to playing our part in wherever its future business growth takes them - and us.”
