Kier Property has completed two lettings at Logistics City in Basingstoke. The scheme is now 79% let; Unit A has been let to Network Rail and Unit B has been let to Thermo Fisher.
Leigh Thomas, managing director for Kier Property commented: ‘We achieved Practical Completion of Logistics City Basingstoke in April and we are thrilled to have secured two lettings, both to 5A1 covenants. This is testament that the occupational market remains resilient in key locations despite the uncertainty surrounding Brexit. We are undertaking a number of schemes in the South East; Logistics City Whiteley in Southampton is scheduled to start on site in September for the development of three warehouses totalling 58,664 sq ft. We’ve also secured planning consent for 549,000 sq ft of industrial space across two schemes in Andover. The South East is a key part of our future business strategy and we continue to review sites in this region.”
Andrew Newman of joint agents Hollis Hockley said: ‘’These lettings demonstrate the continuing strength of the industrial/warehousing market which continues to be constricted by lack of quality supply and steady demand, particularly for new High Bay self contained units. Unit C, the last remaining unit of 22,000 sq ft is now attracting interest at a headline rent in excess of £11.00psf.’’
Logistics City Basingstoke is located in the established Houndmills Industrial Estate. It is well served via the western ringway dual carriageway and also the northern ringway dual carriageway.
Kier Property is being advised by Adrian Whitfield and Charles Wood of LSH and Andrew Newman of Hollis Hockley; contact the agents for more information.
Kier Property has developed more than six million sq ft of industrial space via its Trade City and Logistics City brands and has a pipeline of £1.8bn over the next 10 years.