Hermes has taken Oxenwood Real Estate’s 78,650 sq ft warehouse facility in Weybridge in Surrey as its main south-east parcel delivery depot.
The facility, Logistics 15, at Vickers Drive, West Park Industrial Estate, was taken on a 15-year lease at a rent of £15.15/sq ft.
The facility was acquired in June 2019 from the then occupier, Northamber, by Oxenwood for Oxenwood Catalina, its joint venture with Catalina Holdings (Bermuda). It was leased back to Northamber on a short-term basis to allow the relocation of Northamber’s business.
Stewart Little, co-founder of Oxenwood, said: “The letting to a high-quality delivery company on a long lease immediately after the facility was vacated by the previous tenant justifies our strategy to acquire short-let or vacant buildings in urban markets. We look forward to developing the relationship with Hermes”.
Oxenwood was advised by Cogent Real Estate; Hermes was advised by Lambert Smith Hampton.