Having worked on both sides of the fence with and for Curchod & Co I can confirm that they run an efficient, friendly business and are very experienced and tenacious.
St Modwen Logistics Basingstoke - 11.3 acre site sold, 190,000 sq ft developed and then let
St Modwen Logistics is one of the UK’s most active developers of speculative logistics buildings, with a logistics portfolio of 10m sq ft. In this project, we were tasked with regenerating an 11.3-acre Basingstoke site and letting it. Below we detail the obstacles we faced and how we overcame them.
The challenge
We were initially appointed by ITT Industries Ltd through Cushman & Wakefield Inc to dispose of a key 11.3-acre employment long ground leasehold site located in Viables Business Park, Basingstoke. In 2020, the land was assigned to St Modwen Logistics, who subsequently sought advice from us on the regeneration of the site and the eventual letting of the completed buildings.
Our approach
Here are the steps we took to deliver the best possible outcome for all parties involved:
- Providing valuation advice to ITT Industries and undertaking a disposal marketing campaign, which resulted in handpicked developers with proven track records being invited to submit bids.
- Disposing of the site to St Modwen Logistics.
- Providing St Modwen Logistics with continuing strategic advice on the occupational market, i.e., demand, rental, capital and investment values, building specification, etc.
- Undertaking a comprehensive marketing campaign targeting local and regional occupiers with lease expiries, etc.
- Introducing the buildings to LevertonHELM, a joint venture between Leverton Lithium and HELM AG.’
The result
Curchod & Co successfully negotiated a new 15-year lease with LevertonHELM across the whole estate, totalling 190,000 sq ft along with two retail pods.
On St. Modwen Logistics’ investment In Basingstoke, Jim London comments, “The £18.1m investment by St Modwen Logistics provides LevertonHELM with a range of sustainability features as standard, including an A rating on EPC, rainwater harvesting, EV charging points and PV solar panels. The letting of the entire scheme to one occupier confirms the strength of the market across London’s southwestern corridor. To have let the whole of St Modwen Park to a single occupier is a tribute to the design and quality of the development.”
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