AVC Live has agreed to lease a 71,428 sq ft warehouse on Union Business Park, Uxbridge, in a deal brokered by Reading-based property advisers Vail Williams LLP.
The move comes on the back of significant growth for AVC, part of US-based global production company, PSAV, having recently acquired several like-minded businesses.
With a need to consolidate existing sites to service their growing client base across London and the South East, AVC appointed Vail Williams to acquire new premises in the west and south London area.
Charlie Nicholson, partner at Vail Williams’ Thames Valley office which led the deal, said: “We were instructed to carry out a search for suitable premises which would provide a modern warehouse with an 8.5m clear height, yard, and safe and secure storage facilities, as well as high-quality offices and staff facilities.”
Having carried out an extensive search, the detached warehouse overlooking the Grand Union Canal at Union Business Park, was identified.
Situated within walking distance of Uxbridge town centre, the modern facility boasted the right specification and location, with easy transport links the main road network to service London, but also links to the City via London Underground.
“Large warehouse facilities of this nature with attractive offices are hard to come by in this area, but with room to house AVC’s technical production equipment, and with space for future growth, it represented the ideal opportunity for our client,” concluded Nicholson.
Experts from the firm’s occupier advisory and building consultancy teams came together to advise on the deal, carrying out a pre-acquisition survey of the premises and negotiating the lease of 71,428 sq ft from DTZ Investment Management at £12.50 per sq ft on a 15-year term.
Vail Williams has several offices across the south, including Reading, Heathrow, London, Crawley and Woking, as well as Southampton and Portsmouth.
Phillip Pearce, head of technical services at AVC, said: “We’re grateful to Vail Williams for their expertise in securing our new premises. The team’s expert knowledge of the local market meant they were able to respond quickly to our needs and negotiate a deal which will allow us to fit out the space and move in within our desired timescales.”
AVC has since appointed Vail Williams to help advise on costings and timeline for the fit-out project which is currently underway and to provide ancillary business rates advice.
The company is expected to move in the summer. JLL and Altus acted for DTZ Investment Management.