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Quality Hertfordshire Quintet in the Last Quarter of '23

Quality Hertfordshire Quintet in the Last Quarter of '23

Q4 ’23 proved to be a strong finish for AREA securing instructions on 5 estates in Hertfordshire with a floor area totalling over 1,000,000 sq ft.

Prologis Park, Hemel Hempstead comprises the newest industrial and logistics development in Hemel providing just over ¼ m sq ft in 5 units from 20,000 to 75,000 sq ft. Development has started and completion is expected January ’25.

SWIFT, Waltham Cross comprises a newly completed scheme of 4 units providing 23,000 – 122,000 sq ft. Ready to occupy with a raft of money saving ESG features.

In St Albans AREA are instructed by CBREIM on behalf of Unilever Pension Fund on North Orbital Commercial Park, St Albans. The newly appointed team have two refurbished units vacant of 7800 sq ft and 6000 sq ft available but are also tasked with raising the profile and quality of the fabric of the estate so it remains St Albans premier industrial location.

In Stevenage AREA have been instructed by Westbrook the new owners of Gunnels Wood Park, Stevenage. Owned by USS for many years, the park offers high quality, high profile accommodation for both trade and more traditional industrial/ warehouse occupiers. The new owners intend to “wake the sleeping giant” improving the estate for new and existing occupiers and have asked us to help with the transition of the whole estate. 2500 sq ft is currently available.

Finally to complete the Quintet, Royal London have instructed AREA on Quadrant Park Welwyn Garden City. Developed about 15 years ago the estate remains one of the best in Welwyn Garden City offering quality modern high-profile space. Unit 4 offers 11,407 sq ft of refurbished space and a further 12,000 will be refurbished and ready mid ’24.

Steve Williams – Director -AREA commented “We are absolutely thrilled to be able to help our clients old and new on some of the best estates and highest quality developments in the County. In this market occupiers are seeking quality units that offer both good EPC ratings and an array of ESG features, all these schemes offer high quality buildings and we expect them to generate good demand.”