SMS commits to 'important' business park

Posted August 2014

SMS Electronics has committed its future to Beeston by signing a new ten-year lease at its existing premises.

The company, which employs more than 150 people, manufactures equipment for the medical, industrial, scientific and communications sectors.

Being able to draw from the local skilled workforce was cited by the firm as a key reason for remaining at Beeston Business Park, Technology Drive.

Managing director Mark Goldby said: "We are delighted to have secured this long-term arrangement with the Beeston Business Park, which has been an important part of SMS's rich heritage.

"We are very excited about the proposed plans for the Beeston Business Park and the recently-announced Enterprise Zone status as this will certainly attract new business to the Beeston area."

When the team behind SMS completed a management buy-out from Siemens more than ten years ago, they were able to negotiate only two short-term leases for the115,000 sq ft site.

In order to prevent uncertainty, SMS had to either relocate or persuade the landlord to grant a longer lease. As part of the new deal the landlord agreed to refurbish the premises, including work to the roof and heating and cooling systems.

The new lease was signed on May 28 and the ten-year term will commence on completion of refurbishments.

Geo Hallam & Sons acted on behalf of the firm to negotiate the deal.

SMS was advised on the lease negotiations by Roger Davis and the in-house Building Consultancy Department headed by Julian Breed will project-manage the works.

Paul Watson of Browne Jacobson represented SMS in all legal issues relating to this transaction.

Tim Garratt and Mike Thorne of Innes England represented the landlord in the transaction.

Stephanie Wilkinson, manager of Beeston Business Improvement District, said: "It's great to see that a large company such as SMS Electronics has chosen Beeston as the place to do business.

"Although not directly in the town centre, it reinforces the impact that the town's development is having on business decisions and I am sure that we will see more of this over the coming months."