RO Group has acquired the freehold of a storage and distribution warehouse in Hemel Hempstead for £1.82m from Medway Council.
The 7,648 sq ft unit at Cherry Trees Court on Boundary Way, which is let to national distributor Bobby’s Foods, was purchased at auction.
Bobby’s Foods has occupied the site on a long term lease with a current passing rent of £13.79/sq ft with a rent review in 2026 and lease expiry in 2031.
Nick Cashmore, investment director at RO Group, said: “We are delighted to have invested in one of Hertfordshire’s most established industrial locations. The prime site offers strong fundamentals and supports our long-term strategy of building a resilient and income-generating portfolio with future upside potential. We were attracted to this site by the strength of the location, the reversionary potential with a rent review in 2026 and the very low site cover of 17.5% offering excellent future development prospects.
“The site benefits from excellent connectivity given its close proximity to the M1, making it an ideal distribution hub for Bobby’s Foods’ North London operations. With a growing base of national and regional occupiers continuing to drive demand in the area, we anticipate significant long-term value creation. We continue to seek regional opportunities similar to Cherry Trees Court, with a particular focus on well-connected sites with the scope for future development and strong demand.”
RO Group was advised by Aurum Real Estate and Womble Bond Dickinson.
