National commercial property consultancy Lambert Smith Hampton (LSH) has acquired a 20,000 sq ft industrial unit on Acre Road, Reading, for ESP.

ESP was founded in Reading in 1992 and is an IT specialist with a strong reputation among airport operators and airlines. Since 1992 the company has operated from a 7,000 sq ft unit on Hyperion Way, with its storage outsourced to separate off-site facilities. The move to 5 Acre Road, close to the Madejski Stadium, enables the company to consolidate its day-to-day operations as well as its storage requirements under one roof.

The company has signed a new 10-year lease on 5 Acre Road, the former Woods of Windsor unit, at a rent of £7.25 per sq ft. Significant rental incentives were also secured, with two years, three months and two weeks rent free agreed on behalf of the tenant.

Philip Hunter, associate director in LSH’s Reading office, commented: “We were able to take advantage of the challenging economy to secure highly competitive rent terms and incentives for ESP, facilitating its expansion into larger industrial premises. Our client will now begin its fit-out works with a view to moving in towards the end of the year.”

Mike Harling, director at ESP, added: “Moving offices is a stressful experience and having the right mix of professional advice is essential to obtaining the right accommodation, in the right area, under acceptable commercial conditions. We used LSH in several key areas, most notably its Agency team in finding new accommodation and the subsequent commercial negotiations, as well as in producing a schedule of conditions for the new building and a schedule of dilapidations for our existing building through LSH’s Building Consultancy division. The single biggest benefit for us was the significant value added during the commercial negotiations.”