Gazeley Properties has prelet a 12,077 sq m (130,000 sq ft) distribution warehouse (pictured) on Punchbowl Park in Hemel Hempstead, Hertfordshire, to Scottish & Newcastle’s Waverley Vintners. The deal has been agreed on the basis of a rent of more than £80 per sq m (£7.43 per sq ft).
The 13 acre (5.26ha) park is close to junction 8 of the M1. Other tenants include Wickes Building Supplies, which last August bought 1.4ha (3.5 acres) and has started work on a 5,110 sq m (55,000 sq ft) distribution depot to serve its stores around the M25.
Elsewhere, Gazeley has paid Delta £11m for Delta Park site in Millmarsh Lane, Enfield. The 10.3ha (25.5 acre) site has outline consent, subject to a section 106 agreement, for 41,500 sq m (445,000 sq ft) of B1, B2 and B8 space.
The first phase comprises a speculative 7,897 sq m (85,000 sq ft) of industrial and distribution units.
EGi News 02/02/00
