31 Jan Iconic Essex sportswear brand HQ to be sold
The freehold investment of an industrial and office property occupied by one of Britain’s most popular sportswear brands is to be sold at auction.
Hi-Tec Europe are based in Southend’s Aviation Way, on the property that is being offered with a guide price of £5.5m-£5.75m at the Acuitus commercial property auction on February 12th.
Founded in the Essex village of Shoeburyness, Hi-Tec burst onto the scene in the 1980s as a highly sought-after sports and outdoor brand.
With retro sportswear enjoying a recent revival, Hi-Tec has made a comeback into fashion alongside brands like Kappa and Fila. The Hi-Tec Silver Shadows, a new take on their trendy 80’s trainers, have recently been released.
David Margolis of Acuitus comments: “The property on Aviation Way benefits from its proximity to Southend Airport and the long-standing occupancy of Hi-Tec.
Hi-Tec occupy the majority of the site, but one unit of circa 26,000 sq ft is being offered vacant, allowing a buyer to enhance the income profile of the property.”
The 90,000 sq ft property currently produces an annual income of £385,000. Hi-Tec have recently renewed its lease.
Nearby occupiers include Volkswagen, Citroen, Renault, Nissan and Jaguar Land Rover.
The Acuitus auction takes place at The Montcalm Hotel, London, W1H 7TN on February 12th.