Kintetsu World Express (KWE) has provided Derbyshire's commercial property market with a major boost this week by reaffirming its commitment to its regional headquarters in Castle Donington.

In a deal brokered by national commercial property consultancy Lambert Smith Hampton (LSH) on behalf of the landlord, Newcombe Estates, the global logistics and distribution giant has signed a new 10-year lease on its premises at Willow Farm Business Park.

KWE, which has occupied the 38,483 sq ft unit since it established its East Midlands operation in 2005, initially served notice to break its lease in order to relocate elsewhere.

Industrial and Logistics agents at LSH's Nottingham office were subsequently instructed by the landlord to identify a suitable replacement tenant.  However, following detailed negotiations, the firm decided to renew its lease, reaffirming its commitment to the property for a further decade.  

The new lease will begin with immediate effect.

Willow Farm Business Park is a 50-acre development strategically located at the heart of the Nottingham-Derby-Leicester triangle and is served by an excellent road network.

Sean Bremner, Head of Industrial and Logistics Agency at LSH's Nottingham office, said: "KWE's decision to renew its lease at Willow Farm is testament to the quality and location of the property.

"Our client was keen to retain the firm as tenants and so we are particularly pleased to have agreed the deal and placed it in solicitors hands before the extremely short window of opportunity for doing so expired."

KWE employs 7,510 people and has facilities totalling 6.36 million sq ft in 30 countries worldwide, including UK operations in Belfast, Heathrow, Blackwood, Glasgow, Manchester, Plymouth, Newcastle and Castle Donington.