Lambert Smith Hampton (LSH) has acquired two units totalling 159,304 sq ft on behalf of Hermes in the North.
A 111,600 sq ft depot at Europort Wakefield will provide a long term solution for the company and add significant capacity, servicing the surrounding area following the surge in online shopping during the pandemic.
In addition, the 47,704 sq ft acquisition at Boldon Business Park, Gateshead will ensure the current facility has the capacity to cope with the increased volumes at the Tyneside Depot.
Hermes UK, the consumer delivery specialist which delivers over 400 million parcels every year, currently has more than 20,000 self-employed couriers and recently announced over 10,000 new jobs and an additional £100 million investment towards its UK expansion.
Alex Mitchell at LSH London says: “We are delighted to have advised Hermes UK in the acquisitions of two excellent facilities for their operations in the North. The acquisitions are just two of a number of projects we are currently assisting with nationwide to cater for the company’s long term growth plans.”
Scott Morrison at LSH Leeds says: “Supply levels across the North East and Yorkshire continue to reduce for well-located logistics space, with a particular supply imbalance in the North East which has made it difficult to satisfy our clients’ medium term solution.
“Our tenacious approach for Hermes has resulted in two excellent acquisitions of prime units within their respective locations and satisfied an immediate and long term operational mandate for our client.”