Hollis Hockley secures Hermes Real Estate appointment
20 May 2013
Hollis Hockley have been appointed by Hermes Real Estate, the fund manager to the BT Pension Scheme, to provide advice and market The Loddon Centre warehouse complex.
Situated in the established Wade Road warehouse and industrial area, The Loddon Centre comprises 11 warehouse units totalling 116,000 sq ft, ranging from 5,100 – 36,920 sq ft. A number of these will be brought back to the market over the next 18 months or so, following dilapidations settlements with outgoing occupiers and a planned rolling refurbishment programme which will also include improvements to the landscaping and signage.
It is anticipated that guide rents for leases of fixed terms of 5 years or more will be set at £6.75 sq ft per annum for the larger units of over 10,000 sq ft and £7.25 sq ft per annum for unit sizes below that threshold.
Nick Olliffe, Partner at Hollis Hockley comments "We are looking forward to working with Hermes Real Estate to bring a refurbished warehouse scheme back to the market at a time when supply is actually beginning to get a little tight for good quality industrial and warehousing. The Basingstoke and North Hampshire warehouse market remains surprisingly resilient in the face of all the well documented economic news, so we look forward to generating interest during the course of the next few months".