Letting campaign for UK’s leading industrial developer
Client Name: Prologis
Location: Prologis Park, Blossom Way, Hemel Hempstead
Services: Pre-let and Letting Campaign and Site Acquisition
Prologis has a longstanding history of investment along the M1 corridor. Locally, in Hemel Hempstead they owned over 700,000 sq. ft. of logistics space in 4 units. When an opportunity arose to acquire a further 33 acres within 1.5 miles of Junction 8 of the M1 motorway, Prologis recognised the site’s potential and completed the purchase during the summer of 2017.
Following consultations with the planners at Dacorum Borough Council, planning consent was granted for 10 high quality logistics and warehouse units totalling 585,000 sq. ft. in a landscaped park environment. A key consideration when designing the scheme was to provide a mix of unit sizes, the final scheme was for a range of units from 8,700 – 169,000 sq. ft.
Brasier Freeth were appointed as joint letting agents and commenced marketing the Park in the Autumn of 2017.
The site falls within the Enivro Tech Enterprise Zone promoted by Hertfordshire LEP in consultation with University of Hertfordshire, Rothamsted Research and Building Research Establishment (BRE). With an established reputation in the local market Brasier Freeth has excellent links with key stakeholders in the region and we supported key discussions between our client and the Dacorum Borough Council planners, the Hemel Hempstead’s Business Ambassadors and Hertfordshire LEP.
Construction on Prologis Park, Hemel Hempstead commenced in October 2017. The 59-week programme included 30 weeks of infrastructure provision. Due to level changes across the site, plateaus were stabilised and created. A new road was brought in from Boundary Way to access the site and footpaths were diverted and improved. New street lighting and pavements were also installed and a pocket park was created adjacent to the Jack & Jill children’s nursery, for the benefit of all employees on Maylands.
The site of DC2 was capable of accommodating a 120,000 sq. ft. warehouse. A pre-let was agreed with Hermes Logistics for an 80,000 sq. ft. parcel distribution hub with excellent yard and loading areas on three sides of the building. The project included a turnkey office fit-out and the property was handed over in October 2018 in plenty of time for the Christmas parcel rush.
DC3 a 169,000 sq. ft. unit was let on completion to Vitabiotics who specialise in vitamin and mineral food supplements. The company’s brands of Wellman, Wellwomen and Pregnacare are well known in the industry. Vitabiotics relocated their warehouse facility from Staples Corner to Prologis Park. Brasier Freeth has subsequently been instructed to market their surplus office space within the building.
DC4-4C is a terrace of 4 units.
The 14,000 sq. ft. DC4 was let to local occupier Chiltern Timber, the excellent yard was a key selling point. The 11,000 sq. ft. DC4A was let to Nile Trading who import and distribute marble and quartz worktops. Notably, during construction Prologis changed the foundations of the building to accommodate a crane facility (to be installed by the occupier).
Currently, DC4B and DC4C are available with DC4C benefitting from a 40m yard.
DC5&6 – Comprising two units of 34,000 sq. ft and 39,000 sq. ft. which can easily be combined remain available to let. The units benefit from dock loading and surface level doors, this high specification is typically not seen on units of this size in the region.
DC7 – This 21,500 sq. ft. unit was let on completion to Riwal. Riwal base their headquarters facility in the building. The company specialise in access equipment. Key to this letting was access to the motorway network, a large yard and a high-quality facility.
DC1 – this site at the entrance to the park has planning consent for 149,000 sq. ft. warehouse. Currently we have terms out to an occupier on a pre-let basis.
The success of the scheme to date, which was over 70% let at completion, gave Prologis added confidence in the location. When Brasier Freeth introduced the possibility of buying the adjoining 11.5 acre site fronting Maylands Avenue they were keen to expand the Park and completed on the purchase in January 2019.
Prologis is currently in consultation with Dacorum Borough Council regarding the site’s extension and the project is anticipated to commence during the summer of 2019.
Brasier Freeth is delighted to be part of the continued success of Prologis Park, Hemel Hempstead and looks forward to the next phase of the scheme’s development.
For further information on this project please contact Trevor Church or Claire Madden