October 2, 2013
Legal & General, advised by DE&J Levy has let 13,394 sq ft of warehouse space at Admiral Hyson Industrial Estate, south east London.
The three lettings to London Event Hire, Paragon Projection and Carpetright plc follow an extensive refurbishment programme. The estate, which is located off Galleywall Road in Southwark, is now fully occupied.
The largest unit (5,294 sq ft) was let to London Event Hire at a rent of £12.50 per sq ft. Carpetright Plc has taken a 4,060 sq ft unit at £10.50 sq ft and the remaining 4,060 sq ft unit was let to Paragon Projection at £11 per sq ft. All lettings were on six-year terms.
Will Hutchinson of DE&J Levy commented: “The letting market in 2013 has been characterised by a real shift towards quality refurbished stock due to the continued lack of new development. Admiral Hyson is a classic example of a high quality refurbishment minimising voids and maximising rents”.
The refurbished industrial units include first floor office space, allocated parking and loading facilities to the front of the buildings. The three units were let on six-year terms to bring them into line with lease expires on the remainder of the estate.
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