Federated Hermes, the global investment manager, has completed a letting with the logistics firm Paack Logistics UK Limited (Paack) to take a 33,446 sq ft space at Perivale Park in West London.
The scheme contains a selection of modern industrial units and warehouses, some with accompanying office space, with 24-hour on site security and set within a landscaped environment. The unit taken by Paack comprises a warehouse, ancillary office space and car park, and has recently undergone refurbishment to a high standard.
Perivale Park provides its diverse tenant mix with enviable access to Central London and the M25, being situated just 100 metres from Perivale Underground Station and within half a mile of the A40.
Originally established in Barcelona, Paack is a leading logistics company specialising in delivery experiences and has locations in 67 worldwide cities.
Stephen Ellis, Senior Investment Manager at the international business of Federated Hermes, said: “There has been very good demand for units at Perivale Park, particularly due to its excellent road access to central London and close proximity to the Central Line for staff, as well as the landscaped environment and high level of security available to occupiers. Following this letting the estate is now fully let. Investment is continuing into amenities to improve the estate, which includes a recently submitted planning application for a café at the front of the park.”
Alex Kington, Vice President, Altus Group, added: “Paack are a fast-growing international logistics business that entered the UK within the last 3 years and has since seen significant growth. Their requirement was to triple their warehouse space, in close proximity to their existing space in Acton and the transaction happened within six weeks of the first viewing, highlighting Federated Hermes’ proactive asset management approach. Perivale Park’s location was fundamental to both Paack’s staff and delivery movements.”
JLL and Altus Group are the appointed agents for Perivale Park.
