Icon Industrial has let a 69,295 sq ft speculative warehouse and logistics development in Harlow to an international logistics firm.
Verhoek Europe has agreed a 10-year lease on Unit C at Icon Harlow in Essex, a highly specified warehouse building which was speculatively developed by Icon Industrial. The Dutch-based firm expects to be operational in the new building by the beginning of January 2021.
Verhoek Europe is the latest occupier to move to Icon Harlow following the sale of Unit A, a new 69,872 sq ft head office and logistics development, to specialist food importer and distributor, SOP International.
A third building is available for immediate occupation. Unit B is a highly specified 98,533 sq ft warehouse with three-storey integral Grade A office space, 15m clear eaves height and a 50m yard.
Icon Harlow benefits from a detailed planning consent for phase two of the scheme, which consists of two additional build-to-suit units of between 70,000 sq ft and 200,000 sq ft on adjacent land. An additional detailed application was recently submitted for 112,000 sq ft which, if approved, will provide occupiers with the flexibility to have a unit delivered within six-months to a base build specification.
Icon Harlow is situated within the established London-Stansted-Cambridge corridor, conveniently located just 30 miles north of central London and nine miles from the M25. It is the second development by Icon Industrial, a strategic joint venture between leading commercial property developer Stoford Developments and global private investment firm TPG Real Estate.
Angus Huntley, Development Manager, Stoford Developments, said: “We’re pleased to welcome another dynamic and successful business to Icon Harlow. Verhoek Europe joins a strong and growing list of occupiers that have chosen to expand their operations and benefit from Harlow’s excellent connection to the north London, M25 and M11 corridors. There is increased demand for high-spec warehouse and logistics accommodation in the London-Stansted-Cambridge corridor and we’re excited by what we can offer occupiers at Icon Harlow.”
Jake Huntley, Partner at DTRE, said: “Icon Harlow provides much needed warehouse accommodation in one of the most constrained markets in the South of England. The letting to Verhoek, a third party logistics operator, illustrates the strength of the location for distributors. The industrial and logistics market has shown its resilience over the past 12 months and we expect this to continue into 2021.”
Verhoek Europe was advised by Newmanor Law.