Orchard Street Investment Management has fully let the Centro Trading Estate in Hemel Hempstead following a 16,000 sq ft deal with H.E.L Group.
The company has agreed a 15-year lease on the recently refurbished unit at a headline rent of £17.00/sq ft and will use the space as its global headquarters and manufacturing hub.
The refurbishment improved the unit’s EPC rating from C to A thanks to the addition of an electric VRF system for heating and cooling, LED lighting and rooftop PV solar panels, which are projected to generate more than 60,000 kWh of solar energy per year.
Josh Quinton Smith, asset manager at Orchard Street, said: “That we have been able to let this unit to a high-quality occupier so soon after completing a comprehensive refurbishment of the space is testament to the appeal of well refurbished, sustainable buildings that are energy efficient and create attractive places to work.
“In line with our responsible investment approach, we will continue to evaluate how we can upgrade our wider portfolio, with the understanding that investing in sustainable buildings is not only the right thing to do but continues to attract a range of discerning occupiers who recognise the financial, corporate and environmental benefits of occupying these spaces.”
Louise Madden, CEO at H.E.L Group, added: “We’re delighted to be making the Centro location our new home. The new building provides H.E.L with the space to meet our scale-up requirements for our growing business. It also provides the opportunity for us to have a world-class customer-centric facility to accelerate that growth.
“The environmental credentials of the facility and the refurbishment were a key factor in deciding to locate ourselves here, as they align strongly to our mission to create a healthier, sustainable, safer world for everyone.”
The refurbishment project was managed by J3 Partners. Orchard Street was advised by Adroit Real Estate Advisors and Brasier Freeth.
