Focus Logistics has selected Portsmouth for its new warehouse and distribution centre, which is one of the largest commercial lettings in the city for two years. Commercial property consultant Vail Williams and joint agent King Sturge have let unit 1 Interchange Park on behalf of Sovereign land. A ten-year lease has been granted on the 5,186sq m warehouse.
Commercial property agent Young & Butt represented Focus Logistics in the transaction, which is relocating from Fareham.
Martin Tice, a partner at Vail Williams’ Portsmouth office, comments: “Our clients Sovereign Land, joint agents King Sturge and ourselves are delighted to welcome Focus Logistics to this major industrial and warehouse development. This is the largest letting in Portsmouth for over two years and in turn is a major boost for the Portsmouth economy.”
He continues: “The South Coast industrial market has recently received a significant boost following lettings to Target World Wide Express, Plastimo and now Focus Logistics. Occupiers are recognising the advantageous market rents currently available and are securing new business premises.”
Geoff Colewill, managing director of Focus Logistics, says: “The relocation to Interchange Park is a much needed step up in our business to provide the extra capacity to keep pace with planned growth and the new contracts we have recently won.”
Interchange Park is an 18,600sq m industrial and warehouse development located within one mile of the M27, just off the A2030 Eastern Road. Vail Williams and King Sturge are also marketing Units 3 & 4, which combined offers 7,953sq m of warehouse accommodation, and Unit 5 which has planning consent for a new factory or warehouse, of up to 2,375sq m.