Advised by Levy Real Estate, Cubic Estates has sold a six-unit industrial estate in Hemel Hempstead to Prologis for £26m.

The property comprises 138,000 sq ft of space on Eastman Way. Units 1-3 are let to removals business, Cadogan Tate on 25-year leases running from November 2019. The remaining three units are new builds which reached practical completion at the end of last year.

Prologis own the nearby 450,000 sq ft Amazon fulfilment centre.

Jeremy Grundy of Levy Real Estate – who advised on the sale – commented: “This is a high-quality asset which offers immediate income from the let units and also further asset management opportunities from the new build space.

“Hemel Hempstead has strong local occupier demand and is also an established strategic location for logistics operators servicing London.”

Levy Real Estate advised Cubic Estates. BNP Paribas acted for Prologis.

 

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