UK technology distributor Westcoast Holdings has taken a 341,871 sq ft warehouse at Andover Business Park in Hampshire.
Known as Centric 341 the facility is owned by real estate investment management firm Oxenwood Real Estate, and has been let on a 20-year lease at £6.72 per sq ft.
The facility will double Westcoast’s UK warehouse space, adding to existing facilities in Theale in Berkshire, Wilford in Nottinghamshire and Milton Keynes.
Alex Tatham, Westcoast’s managing director, said: “This new facility demonstrates the level of confidence the Board has in the business and its future growth in the UK as well as in exports, expansion businesses and services – some of which will be based in Andover.”
Stewart Little, co-founder of Oxenwood, said: “The letting at Andover represents further vindication of a strategy to acquire vacant buildings which offer either modern strategic long-term lease solutions for customers or refurbishment opportunities which provide shorter-term but higher yielding assets. The letting to Westcoast is a great example of the former and we look forward to developing the relationship with Westcoast both domestically and in continental Europe”.
Oxenwood was advised by M1 Agency, DTRE and JLL.
By Liza Helps