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New tenants set to move into Unit 22 Oriana Way
- Date: 19th May 2021
Hellier Langston are pleased to announce that Formation Freight Ltd. are the new occupants on the Nursling Industrial Estate, Southampton.
Formation Freight Limited is a Southampton based shipping agent, first established in 2001. They specialise in road haulage, delivery of storage containers and pick, pack and palletisation of goods.
Formation Freight Limited signed a 10-year lease at the 101,299 sq. ft. property. Aviva Investors gave instructions to Hellier Langston and Lambert Smith Hampton in January 2021 to start marketing the unit ready for when the previous tenant moved out at the end March 2021. Terms with Formation Freight were agreed during March and the letting completed in early May 2021.
The pandemic and UK lockdown inevitably presented some challenges, but Hellier Langston worked hard to keep the momentum going throughout the process, ensuring that both parties were well-informed every step of the way.
Unit 22 is located on Oriana Way which is part of the Nursling Industrial Estate. It is located to the north-west of Southampton and is arguably Southampton’s most established and best-connected warehouse location excluding the airport.
The property comprises a detached high bay warehouse of steel portal frame construction with a profile metal roof, translucent panels and an eaves height of 10.5m. The unit has excellent motorway access and provides quick access to Southampton City Centre and Docks, as well as easy travel to nearby cities of Portsmouth and Winchester.
The premises sits on a 5-acre site and benefits from a 60-space car park to the front. It has a fantastic loading facility, which include two large secure yards, accessed via the east and west elevations from Oriana Way and Majestic Road.
Matthew Poplett Director at Hellier Langston said "We are very pleased to have let this site to Formation Freight Ltd. so quickly. They are a local company with a national remit and their growth is important to the regional economy as whole in the middle of a pandemic. This unit became vacant at the end of March 2021 and we let it at the beginning of May 2021, this shows the strength of the South Coast warehouse and industrial market for high quality products."
Alexandra Sorrill, Real Estate Asset Manager at Aviva Investors, said: “We are pleased to welcome a high-quality and local tenant to Unit 22. The site at Nursling offers easy access to the international docks at Southampton as well as national road networks, given its close proximity to the M3. Alongside the quality of on-site facilities and the area’s established reputation within the UK logistics market, we believe this makes Unit 22 a compelling location for businesses and will continue to play an important role in our portfolio.”
Luke Mort, Associate Director at Lambert Smith Hampton said “The South Coast Industrial and Logistic occupational market has shown unpresented demand over the past 12 months for large warehousing from occupiers who have seen significant growth. We are delighted to have been involved in this letting to a local occupier as a result of this and to continue our ongoing success with lettings on behalf of the client in Hampshire."
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