CBRE completes letting of final units at Hermitage Park

Across the UK take-up of industrial and logistics space in the first half of 2021 has been at unprecedented levels. This demand has continued into Q3, with a number of local transactions completing in a matter of weeks.

Hermitage Park, Havant is a joint development from LaSalle Investment Management and Salmon Property providing circa 33,000 sq ft of brand new space in four Grade A units ranging between 4,588 sq ft and 12,594 sq ft.

In recent weeks, CBRE has completed the leasing of the final two units and the site is now fully occupied. Following the leasing of Unit 9 to Becks Removals as it continued to grow its South Coast offices, Chelmsford headquartered Global Marine Systems has now taken 12,594 sq ft at Unit 7. In addition, design consultancy and precision engineering firm GSD Technologies, has taken 4,588 sq ft at Unit 8 as the business continues to expand its operations from existing premises in the town.

CBRE Advisory & Transaction Senior Surveyor Oliver Sherriff comments:

“Our client took the decision to develop this prominent 2.2 acre site in order to address some of the imbalance between small and mid-sized industrial space supply and demand in the town. These recent deals justify the decision to build speculatively and continue to highlight the strong demand across the South Coast for quality new build industrial units.

“Hermitage Park is well located with good road access making it popular with occupiers looking to expand their operations or relocate.”

CBRE and JLL were joint sole agents for Hermitage Park