Acting on behalf of Hargreaves Developments, national commercial property consultancy, Lambert Smith Hampton (LSH), has agreed a major pre-let at Hamilton Business Park in Hedge End, Southampton.
International courier and logistics giant, GeoPost, has signed a pre-let agreement on a prime industrial site at the park on Botley Road, taking 36,580 sq ft close to junction 7 of the M27.
GeoPost is to relocate from Chandler's Ford and, subject to obtaining planning consent, construction of its new industrial and logistics warehouse is due to commence in spring 2012, with practical completion targeted at the end of 2012. A new 20-year lease has been signed without a break clause. GeoPost was advised by sbh.
Adrian Whitfield, director in LSH’s South Coast Agency team, commented: “Early in 2011 we predicted that the worrying shortage of quality stock would drive pre-let agreements such as this, and our detailed knowledge of the regional property market enabled us to identify prospective occupiers.”
He added: “This transaction is a significant deal for the area and its economy. It demonstrates returning confidence from successful businesses in committing to long term deals, in return for bespoke design and build properties. Our Industrial & Logistics team is also working closely with our in-house Retail advisors in providing ongoing development advice on the main road site, which will also prompt further trade, showroom and warehouse development on the remainder of the site. We are already in dialogue and negotiations with several prospective occupiers, which is an encouraging start to 2012.”
Hamilton Business Park has been developed in three phases since 2001, providing 105,000 sq ft of trade counter, showroom, industrial and warehouse space.
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