Prologis, the UK developer and owner of logistics parks, has agreed a lease with Osprey London for a 13,066 sq ft warehousing facility at Prologis Park Eastman, in the heart of Hemel Hempstead.
British luxury leather & gifts brand, Osprey London, was established by entrepreneur/designer Graeme Ellisdon in 1980. Now with a growing chain of stores across the UK, the retailer has taken a 10-year lease, with a five-year break option on the EPC ‘A’ rated building at Prologis Park Eastman. Having begun a significant and ongoing investment programme into the brand’s ecommerce business, this latest move supports the brand’s online growth strategy and will bring new efficiencies to servicing its stores and key wholesale accounts.
Hemel Hempstead is a popular location for a diverse range of businesses and some of the biggest names in online retail and logistics, including Hermes, Amazon, Next, and Vitabiotics, all occupy Prologis buildings in the local area. The town is well-suited for businesses looking to service the London market and further afield. Strategically located within two miles of the M1 junction 8, Prologis Park Eastman has easy access to the M25 and North London.
Tom Price, capital leasing & development associate, at Prologis UK, said: “Hemel Hempstead is one of our most important locations, close to London and with excellent transport links, including easy access to the national motorway network.
“Having acquired the 138,000 sq. ft. Park in March last year, we are delighted to confirm that the site is now fully let. This confirms the location’s appeal for companies seeking to service homes or businesses in the London area.”
Osprey London Founder/CEO, Graeme Ellisdon, said: “Expanding our operations to Unit 5 at Prologis Park Eastman, with the location’s increased storage and distribution capacity close to London, will provide Osprey London with an efficient and streamlined hub from which we can significantly scale up our online, retail and wholesale business.”
Over the past 20 years, Prologis has been supporting the local economy and jobs market with a sustained programme of investment and growth into industrial and logistics parks, providing much-needed modern warehousing for both large national companies and local businesses looking to grow. Earlier this year, Prologis acquired a further 11.6 acres of land to expand Prologis Park Hemel Hempstead, and this pushed the company’s cumulative investment in the area to more than £250 million.
Sir Mike Penning, Member of Parliament for Hemel Hempstead, said: “This is great news for the town. With the arrival of Osprey London filling the Prologis Park Eastman it sends a clear message that Hemel Hempstead is a perfect place to locate – convenient for major transport networks and for London. The success of this development will encourage other large companies to base themselves here, which can only be good for all of us.”
Prologis is also a member of Hemel Hempstead Business Ambassadors (HHBA) and works with other local businesses and individuals to help attract inward investment to the area and create a more successful economy for the benefit of everyone.
Brasier Freeth, Levy and BNP all acted for Prologis in relation to the leasing of the facility at Prologis Park Eastman.
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