King Sturge - Industrial Letting - Hertfordshire, Hemel Hempstead

Date: 10 Jul 2008

The Industrial Property Invest Fund has let Unit 1, Swallow Lane Hemel Hempstead to Maxi Muscle Ltd on a new 15 year term.

Unit 1 offers 33,266 ft² of single storey warehousing space, with 26' 3" (8m) clear working height, and 3,511 ft² of office accommodation at first floor level.

A 15 year FRI lease has been agreed at an initial rent equating to £7.65 ft². The rent will be subject to five year upward only and the tenant has options to determine the lease at the end of the fifth and tenth years subject to a minimum of six months notice. A four month rent penalty will be charged if the break is in year five. The rent commencement date has been set for 1st January 2009, effectively a nine month rent holiday.

Maxi Muscle, the sports nutrition company, joins YRC Logistics and Piccadilly Designs at Horizon Point reflecting the positive sentiment to the area following the Buncefield explosion in December 2005. Unit 3, providing 22,742 ft², is available to let on terms to be agreed.

King Sturge and Lambert Smith Hampton acted for IPIF whilst the tenant was not represented.

Horizon Point, Hemel Hempstead