Kier Property is delighted to announce that its final unit ‘C’ at Logistics City in Basingstoke is now let to DFS and occupied by Sofology as a customer fulfilment centre.
The letting was twin tracked with an investment sale to Cabot Properties, which also acquired Units A and B.
This development at the Houndmills Industrial Estate in Basingstoke consists of three units and hosts other occupiers Network Rail and Thermo Fisher.
Phil Sutton, development director for Kier Property commented: “It is great that we are able to announce this news at the start of 2021 which underlines how resilient the industrial sector continues to be during the pandemic. We are looking to expand the Logistics City brand and have a significant land acquisition programme planned this year to extend our development pipeline.”
Michael Williams of Cabot Properties added: ‘We are pleased to have concluded the acquisition of Unit C which completes our ownership of Logistics City, Basingstoke having acquired units A & B in 2019. The scheme provides an attractive diverse income profile, a best in class specification and further increases the South East exposure within our growing Core plus portfolio.’
Kier purchased the five-acre site in 2016 and developed the logistics scheme as part of its south east strategy to focus on developing industrial schemes in the area.
Kier were advised by LSH and Hollis Hockley on all lettings and DFS was advised by Savills.
LSH advised Kier on the investment sales and Colliers International advised Cabot.