Acting for Hargreaves Developments, we have 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 to move from Chandlers Ford
GeoPost is to relocate from Chandlers Ford and, subject to obtaining planning consent, construction of its new industrial and logistics warehouse is due to commence in spring 2012. Practical completion is targeted at the end of 2012. A new 20 year lease has been signed without a break clause. GeoPost was advised by sbh.
Pre-lets proving popular with occupiers
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.”
Adrian 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.”
Future development plans for the site
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 prompt further trade, showroom and warehouse development on the remainder of the site. Adrian added: “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.