LSH has let a 53,940 sq ft warehouse on Stoke Park, Tower Lane, in Eastleigh to international logistics company, DHL.
Acting on behalf of F&C Reit Asset Management, LSH has secured a 10 year lease with DHL International at £7.00 per sq ft.
DHL has experienced a significant increase in demand from its e-commerce and parcel distribution services, and the move sees it increase floor space by 50% relocating from two sites in Hedge End, Southampton, later this year.
The perfect 'mid box' solution
The company has been looking for a suitable property for over two years and Stoke Park was chosen because of its modern high specification facilities with 10m eaves height and air conditioned offices, secure yard and easy accessibility to the M3 and M27 motorway networks.
Adrian Whitfield, Director in LSH’s South Coast Industrial & Logistics Agency team, says: “We have been saying for some time there is a lack of supply of modern, quality warehouse facilities from 30-60,000 sq ft in the Hampshire area. This shortage on the South Coast of what we call the ‘mid box’ size range, has seen the rental value increase by 7% at Stoke Park with DHL highlighting the secure yard as one of its key features. We were very pleased to sign such a major internationally recognised company as DHL, while providing them with the perfect solution for their expansion needs."
Following the letting, 27,742 sq ft of warehouse space remains available at Stoke Park. The availability of this space is unique in the market at present providing the same high specification space with a large secure yard, 10m eaves height, two dock level and two ground level loading doors. LSH is joint marketing agent with Vail Williams.
Stoke Park is strategically located off Chickenhall Lane, Eastleigh within 2.5 miles off the M3 Junction 12, 1.5 miles of the M3 Junction 13 and two miles off the M27 Junction 5.