The construction of a brand new industrial scheme on Hamilton Business Park in Hedge End, Southampton, has completed.
Representing Hargreaves Developments Ltd, national commercial property consultancy Lambert Smith Hampton (LSH) agreed a major pre-let deal at the scheme in January this year. The deal saw international courier and logistics giant, DPD (Dynamic Parcel Distribution) – a GeoPost brand – sign a pre-let agreement at the park on Botley Road, taking 36,580 sq ft of space. The building is now complete and was formally handed over to DPD on Friday 12 October.
DPD is relocating from Chandlers Ford, with 77 members of staff and 31 Owner Driver Franchise staff making the move to the brand new, modern facility in Hedge End. The company has signed a new 20 year lease without a break clause. DPD was advised by sbh.
Adrian Whitfield, Director in LSH’s South Coast Agency team, commented: “The shortage of quality industrial stock has been a challenge for the South Coast markets, and indeed other regions of the UK, for a few years now. This has driven a number of pre-let transactions in 2012, with schemes being custom-built for tenants with demand that cannot be met by current supply.”
Adrian added: “DPD’s move to Hamilton Business Park is a significant vote of confidence for the area and its economy. It also demonstrates the foresight of a successful business in committing to a long term deal, in return for bespoke design and build.”
Hamilton Business Park has been developed in three phases since 2001, providing 105,000 sq ft of trade counter, showroom, industrial and warehouse space. The remainder of the site offers industrial/warehouse pre-let space of between 7,700 and 31,000 sq ft; one of very few sites along the M27 corridor to offer such opportunities, ready for immediate development.
