DSV secures more space at Mercia Park

Global transport and logistics company DSV has taken a further 215,000 ft2 of space at ICG Real Estates 2.94 million ft2 Mercia Park development in the Midlands.

By Liza Helps Property Editor Logistics Matters

THIS NEW lease expands DSV’s footprint on the park to over 500,000 ft2t, with the company having taken a 315,000 ft2 unit in March 2023.

Originally the whole park was pre-let to Jaguar Land Rover – representing Europe’s largest ever single occupier built-to-suit transaction. However, the manufacturer had to engage in a strategic lease surrender of two units comprising 530,000 sq ft – which are now leaszed to DSV.

This latest deal sees DSV take a 10 year lease reflecting a 40% uplift on historic rents. Headline rents are now at £10 per ft2 in the immediate area.

ICG agreed to forward fund the 238-acre Mercia Park in 2021, on behalf of its Strategic Real Estate I fund with JLR as sole occupier of the manufacturing and logistics campus.

All units have been delivered to BREEAM Excellent and net zero in construction and a re located just off the M42 motorway.