Parcel delivery and courier operator, Hermes Parcelnet, has moved into the former Digital Pipeline unit on Priory Park in Aylesford, Kent on a five year lease.
Lothbury Investment Management, on behalf of Lothbury Property Trust, took a simultaneous surrender of Digital Pipeline’s lease and the new letting of Unit 3E to Hermes Parcelnet. The property comprises 10,036 sq ft of industrial warehouse space. The rent is £114,500 per annum.
The unit had been occupied by Digital Pipeline for one year and has been in the Lothbury portfolio since 2000. Lothbury owns ten units on Priory Park.
Perry Linch, Head of Asset Management at Lothbury Investment Management, said: “Priory Park continues to be an excellent performing asset which has been in the Lothbury Property Trust portfolio since 2004. It has a spread of high quality tenants and is a very good performer for the fund. The Park is a very popular location for occupiers with first rate access to the local road network. Hermes Parcelnet has an excellent covenant, and we are delighted that they have agreed the lease at Priory Park.”
Priory Park benefits from direct access from the A20. Junction 5 of the M20 motorway is easily reached, approximately 1.5 miles to the north.
Other major occupiers on Priory Park include Tesco, Kent Police Authority and Chubb Fire.
Lothbury was represented by Altus Group, Hermes was unrepresented.