VPG take the strain at the Loddon Centre, Basingstoke
29 April 2014
One of the world's largest manufacturers and developers of products in the strain and stress measurement industry has doubled in size on Hermes Real Estate's "The Loddon Centre" (TLC) estate in Wade Road, Basingstoke.
VPG has acquired Unit H, comprising 10,510 sq ft of warehousing space. Together with their offices on the nearby Cartel Business Centre, VPG will adopt the warehouse premises as their European Distribution Centre.
Various units on the TLC estate are being re-marketed by Hollis Hockley and their joint agents. The transaction with VPG is the second in 3 months and involves a new 6 year lease term at a rent of £6.75 per sq ft, underpinning existing rental values on the estate.
Christina Holland, Asset Manager at Hermes Real Estate commented. "We are pleased that VPG have decided to improve their offer at TLC. We continue to take an occupier-led approach in our asset management and seek to provide complimentary tenant mixes that ultimately lead to successful trading. More recently the successful rebrand of TLC has made the Centre a more attractive prospect for potential tenants and recent lettings are a testament to that".
Christine Unsworth at VPG said "The development and its location have served us well for 10 years and so expansion was a straightforward decision once a suitable unit became available on the estate".