Industrial asset management specialist NSM has let an additional unit to global logistics giant Hermes – with the deal from initial enquiry to occupation taking just five days.
As demand for logistic and industrial space grows during the covid-19 crisis, NSM was initially approached by Hermes with a speculative enquiry on Monday April 27 for expansion space at the Vector 31 Industrial Park, close to Junction 31 of the M1.
A viewing was arranged, and Head of Terms were finalised within 24 hours. The lease was agreed and signed a day later with Hermes taking occupation of the 11,650 sq. ft unit on Friday May 1st.
NSM Managing Director Nicky Jones said: “Demand for quality logistics and industrial space is huge at the moment but even in our most optimistic moment we never thought we would be able to deliver a deal like this in such a tight timeframe. I am incredibly proud of the NSM team and our partners for making a 5-day turnaround possible, it really shows how agile our business is.
“We are obviously delighted to assist a current tenant and we have also been able to offer flexible leasing terms that suit their current business demands.”
Vector 31 offers nine high quality modern industrial units with gated yards, centrally heated offices, dedicated car parking, heating and lighting in the warehousing areas, as well as 7m high eaves.
As an industrial asset management specialist NSM manages more than 4.3million sq. ft of industrial property across the north. It currently looks after 669 units nationally with a rent roll in excess of £14m.
David McPherson, Head of Depots said “We’re delighted that NSM has been able to support Hermes with a quick turnaround on the letting. Our business is incredibly agile and needs to have the ability to quickly scale up when demand is high, the pandemic has accelerated the shift from the high street to online. Additional pop-up depots like these give us the opportunity to operate safely and continue to support our clients so we can meet demand from the end customer and in turn support the government’s guidance to stay home wherever possible.”
NSM manages over 4.3 million sq. ft of industrial property across the north and midlands. Looking after 669 units and a rent roll in excess of £14million. The value of the assets under management is estimated at £237.5million.