International parcel delivery company Hermes has taken LaSalle Investment Management’s final warehouse unit at South Central, Southampton as part of its much needed expansion plans in the region.
The transaction sees Hermes take on 118,257ft2 at the speculatively built 3-unit scheme to join existing occupiers CCF and John Lewis.
The move represents an expansion in the Southampton area for Hermes who will move from their current base in Hedge End and will also create 100 local jobs.
Deborah Faithfull, Estates Manager at Hermes said: “The expansion to South Central was crucial to fulfil Hermes current and projected growth whilst boosting the local economic output in creating 100 more jobs as we head into our busiest time of the year.”
The letting is the largest of a Grade A building on the South Coast this year and puts further pressure on a tight supply of available buildings in a market which is continuing to witness record levels of take up.
Edd Fitch, Director of Asset Management at LaSalle Investment Management said: “The South Coast market has been a real area of growth over the past 5 years and we are pleased to have been able to contribute to that by delivering a series of Grade A developments both here and across the M27 Corridor in Havant and Waterlooville.”
CBRE and Lambert Smith Hampton advised on the transaction.