"TLC" offered by Hermes in Basingstoke
16 January 2014
Hermes Real Estate Investment Management Limited (HREIML), who are asset managers for the Britel Fund Trustees, has launched the marketing of industrial and warehouse units at The Loddon Centre in Basingstoke. This has included the rebranding of the estate as "TLC" and appointment of Hollis Hockley as one of the joint letting agents.
Located in the established Wade Road industrial area of the town, the scheme consists of 11 units and comprises a total of 113,000 sq ft. As part of the rebrand five units have initially been brought back to the market. These offer space options between 4,958 sq ft and 36,323 sq ft with rents from £6.75 to £7.25 per sq ft, dependent upon the unit size.
Hermes Real Estate has embarked upon a programme of improvement works to the estate, led by managing agents Jones Lang LaSalle, which includes refreshing the landscaping, providing newly branded signage and installing refuse compounds.
The marketing campaign has produced early results with the letting of Unit C of 4,958 sq ft to Testbourne Ltd, who have signed a new 10 year lease at a headline rent of £7.25 per sq ft before incentives. Meanwhile Unit D has been relet to Index Plastics Ltd on a new 5 year lease, also at £7.25 per sq ft.
The Loddon Centre is a significant land holding in Basingstoke, perfect for access to the motorway and the town centre amenities. A phased refurbishment programme will ultimately help position "TLC" as a competitive option in a key industrial location.