Latest commercial property news from Lambert Smith Hampton

LSH secures DFS for key Southampton distribution site


Acting on behalf of CBRE Global Investors, Lambert Smith Hampton has agreed the letting of Unit 17-18 Oriana Way, Nursling, Southampton to DFS Trading Limited.

LSH acquired the 30,621 sq ft property on behalf of CBREGI for £2.1 million earlier this year and following a short marketing period identified three prospective tenants for the property before agreeing terms with DFS. 
Director of industrial and logistics agency at LSH, Adrian Whitfield, comments: "The key for this acquisition and letting is the new demand driver for warehouse space in the UK from e-commerce and non-food retailers who are following food retailers by changing their distribution networks. LSH and Savills (acting for DFS) had been in discussion about this potential requirement for a period of time and when the search was reactivated earlier this year, at the same time the unit became available, LSH moved quickly to secure a letting to DFS.” 

Tom Clews, fund manager at CBREGI explains: “Due to a shortage of stock in this area, LSH recommended a strategic acquisition adjacent to the current holding with full refurbishment to enable CBREGI to secure a substantial covenant and long term lease to enhance the investment value. This strategy resulted in three parties competitively bidding to lease the property, which was reflected in the terms agreed." 

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Adrian Whitfield
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