Logistics developer and manager St Modwen has acquired an approximately 170,000 square foot cross-dock distribution center in Hatfield, Hertfordshire, UK.
The quality distribution warehouse is located in Hatfield Business Park, one of the South East’s premier distribution centers, close to the A1 and M25 and just 22 miles north of Central London. The property is fully leased to parcel delivery company Yodel, which serves as one of its three national distribution centers.
The asset includes quality distribution space including 158 dock level loading gates, 233 truck parking spaces, office space and a staff social facility.
Hatfield is an established distribution base in the South East of England, with 83% of the UK population within four hours’ drive. In addition, the region’s population is forecast to grow by 4.7% over the next decade, compared to the UK average of 1.7%.
James Cooper, Head of Transaction, St Modwen Logistics, commented: “There has long been a shortage of modern logistics space in many areas of the South East of England. This is a rare opportunity to acquire a quality warehouse in an exceptional location, leased to a leading UK company and continues our growth in the highly competitive sub-markets in and around London.”