In the largest letting on the South Coast since 2009, Harris Transport has taken Oceanic Estates’ 109,588 sq ft warehouse known as Avalon at four Parham Drive, Eastleigh near Southampton.
The company, which is relocating due to expansion, has taken a 15 year lease at an undisclosed rent.
The property had been marketed on a ten year lease at £450,000 a year equating to approx. £4.10 per sq ft through joint letting agents Jones Lang LaSalle and Lambert Smith Hampton.
The property boasts eaves height up to 12.45m, 19 dock level loading doors and an HGV yard as well as space for 10,000 pallets.
Oceanic Estates acquired it for £3.8 million in 2011 equating to £34.50 per sq ft.
Harris Transport will take occupation shortly.
Matthew Poplett of Jones Lang LaSalle said: “This is the largest warehouse letting on the South Coast since July 2009 when the building was previously let to Just Data Systems on a short term lease.
“There is a lack of supply of good quality large distribution space within a 30 mile radius of Southampton and Jones Lang LaSalle are in the position of marketing two of the other four premises which are built and available over 50,000 sq ft.”
Tony Lewis Chartered Surveyors represented Harris Transport.