St Modwen announces pre-let at Lincoln industrial park
The second phase of development is underway at St Modwen’s popular 70-acre industrial and logistics scheme near Lincoln with the completion of steelworks.
Two units of 25,000 and 55,000 sq ft are set to be delivered at St Modwen Park Lincoln with one unit already pre-let to DHL. The German logistics company, which acquired UK Mail in 2018 is expanding at the scheme and will occupy a 25,000 sq ft unit on a 10-year lease. This is in addition to a 32,000 sq ft unit occupied by its sister company – Deutsche Post DHL – who arrived at the site during phase 1.
Phase 2 is expected to be completed by Summer 2020.
Nick Kay, development director at St Modwen, said: “To have secured a pre-let with DHL demonstrates a strong appetite for well-located space in the region. The units delivered as part of our first phase of development were quickly taken off the market by two well-respected brands and it speaks volumes that a key player in the logistics market such as DHL has once again chosen to expand with us here at St Modwen Park Lincoln.”
Joint agents for the scheme, Simon Lloyd of Cushman and Wakefield, and William Wall of Banks Long, added: “The scheme offers unrivalled transport links, giving occupiers the ability to easily carry out operations across the UK and overseas. Securing an additional pre-let with DHL shows that St Modwen is highly-skilled in speculatively developing quality, flexible space.”