SEGRO - Industrial Letting - London

Date: 19 Sep 2008

SEGRO, Europe's leading provider of Flexible Business Space, has let Unit 9 at Phase 200 Parkbury, Handley Page Way, Radlett to Avesta Investments. The scheme is now fully let.

Avesta Investments Ltd, trading as Stone for London, has taken the 6,609 sq ft (614 sq m) storage, distribution unit on a new 15-year lease at a rent of £57,830 pa. The accommodation will also be used to display stone products.

Phase 200 comprises 12 recently built industrial/warehouse units ranging from 4,527 to 15,605 sq ft (420 to 1449 sq m), totalling 101,758 sq ft (9,453 sq m), let to tenants including BMI Healthcare, Bimecc and West House Transport.

This phase is an extension to the established 268,030 sq ft (24,900 sq m) Parkbury development which is located adjacent to the A5183 Radlett Road, north of Elstree, providing proximity to St Albans, Watford, Edgware and the M1, M25, M10 and A1.

Ken Butcher, Senior Leasing Surveyor, comments: "Parkbury provides good quality accommodation in the right location and we have continued to experience a high demand, reflected by the scheme now being fully let. To fulfil this demand we have commence construction of Phase 400 Parkbury, 40,000 sq ft of which has already been pre-let to Blanco."

Phase 400 will comprise four industrial/warehouse units totalling 84,499 sq ft (7,850 sq m). Completion is scheduled for January 2009.

Lambert Smith Hampton and Cushman & Wakefield and retained agents for Parkbury and Roth Associates advised Avesta Investments.

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