Logistics developer and manager St. Modwen has acquired a c.170,000 sq ft cross-docked distribution centre in Hatfield, Hertfordshire, UK.
The high-specification distribution warehouse is located on the Hatfield Business Park, one of the South East’s premier distribution centres located close to the A1 and M25, and just 22 miles north of Central London. The property is fully let to parcel delivery service Yodel, serving as one of its three national distribution hubs.
The asset comprises of high-quality distribution space, including 158 dock level loading doors, 233 HGV parking bays office accommodation and a staff welfare facility.
Hatfield is an established distribution location in the South East of England, with 83% of the UK’s population accessible within a four-hour HGV drive time. In addition, the local area’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 been a long-term shortage of modern logistics space across many areas in the South East of England. This is a rare opportunity to acquire a high-quality, exceptionally located warehouse let to a leading UK business, and continues our growth in the highly competitive submarkets in and around London.”