‘Important’ freight firm signs deal for warehouse unit

A FREIGHT company whose growth is “important to the regional economy” has signed up to a warehouse covering more than 100,000sqft. Southampton-based Formation Freight took the unit at Nursling Industrial Estate barely a month after the previous tenant moved out. Formation Freight Limited is a shipping agent specialising in road haulage, delivery of storage containers and the picking, packing and palletisation of goods.

The company has signed a 10-year lease on the property, which covers 101,299sqft on Oriana Way. Aviva Investors instructed Hellier Langston and Lambert Smith Hampston to start marketing the unit in January, ready for the previous tenant to move out at the end of March. Terms were agreed with Formation Freight during March and the letting was completed in early May.

Matthew Poplett, director at Hellier Langston, said: “We are very pleased to have let this site to Formation Freight Ltd so quickly. “They are a local company with a national remit and their growth is important to the regional economy as whole in the middle of a pandemic. “This unit became vacant at the end of March 2021 and we let it at the beginning of May 2021, this shows the strength of the South Coast warehouse and industrial market for high quality products.”

Alexandra Sorrill, real estate asset manager at Aviva Investors, said: “We are pleased to welcome a high-quality and local tenant to Unit 22. “The site at Nursling offers easy access to the international docks at Southampton as well as national road networks, given its close proximity to the M3. “Alongside the quality of on-site facilities and the area’s established reputation within the UK logistics market, we believe this makes Unit 22 a compelling location for businesses and will continue to play an important role in our portfolio.”

Luke Mort, associate director at Lambert Smith Hampton, said “The South Coast Industrial and Logistic occupational market has shown demand over the past 12 months for large warehousing from occupiers who have seen significant growth.

“We are delighted to have been involved in this letting to a local occupier as a result of this.”