ONE of Maldon’s major employers has secured the future of the business for the next ten years with a £3 million deal.
Rockwell Automation rents its base at Hall Road, Heybridge, from property investment company Palace Capital plc.
The lease had been due to run out in June next year but the firm has now agreed a £3 million deal to secure the building for a further ten years.
The firm is believed to be the district’s second largest private employer, behind Maldon Salt.
Rockwell Automation, which provides smart manufacturing technologies for businesses, has an office building and warehouse in the ICS Buildings complex.
Rent has been set at £375,000 a year with a rent review in 2022.
Adam Howard, business manager at Rockwell Automation, said: “ICS Triplex and Rockwell Automation have played an important role in the economy of Maldon for many years.
“We are delighted to have agreed on a new lease that allows us to continue our operations from our facility in this town.”
Neil Sinclair, chief executive of Palace Capital, said: “We are delighted to have concluded this transaction with Rockwell Automation, which is also a tenant in two of our office buildings in Milton Keynes.
“The lease extension ensures continuity of income from these assets until at least June 2020.
“This is another example of Palace’s focus on maintaining and in time growing the income from our property portfolio in order to gen- erate value for shareholders.”
He added: “This is good for us as we have got continuation of income for at least three and a half years and it is good for the people of Maldon as the employee will remain there.”
In 2007 Rockwell Automation took over the former ICS Triplex base in Maldon in a £110 million deal.
At the time 200 people from all over the Maldon district and be- yond worked at the firm’s headquarters in Hall Road.
The American firm has customers in 80 different countries.