Global shipping company opens in ex-Amazon delivery station

By Liza Helps Property Editor Logistics Matters

PFS COMMERCE is thought to have taken a 10 -year lease on the building at a rent around £10 per ft2. It will use the 71,542 ft2 facility to fulfil contracts with premium beauty brands. The building has 10.5m eaves as well as four dock and two level access doors. Joint letting agents were M1 Agency and Lambert Smith Hampton.

Amazon leased the building known as Radial 27 on a short term lease of five years with break in 2020 while it developed a state of the art delivery station in Havant.

Landlord is Urban Logistics REIT, which has just secured £57 million in sustainable transition financing from Aviva Investors.

The nine-year facility is secured against a portfolio of 10 logistics assets across the UK, which together total more than 900,000 ft2 of space.

The loan from the global asset management business of Aviva includes a commitment from Urban Logistics REIT to undertake sustainability improvements across the 10 assets being lent against, as well as 23 additional properties from previous tranches of financing that were not sustainability linked.

As a result, the entire lending programme between the two businesses is now aligned with Aviva Investors’ Sustainable Transition Loans framework, as well as Urban Logistics’ own environmental, social and governance (ESG) targets.