St Modwen secures DHL lease at St Modwen Park in Lincolnshire
St Modwen has completed a deal to bring global distribution giant DHL to St Modwen Park Lincoln.
Occupying a new 32,000 sq ft unit on a 15-year lease, the international courier, parcel, and express mail division of German logistics company Deutsche Post DHL will operate its “Express” division from St. Modwen Park Lincoln.
The unit is one of two constructed this year with phase 1 of the development completed in Spring - creating more than 95,000 sq ft of industrial and logistics space.
Rob Richardson, Senior Development Manager at St. Modwen, said: “This deal demonstrates the need for high-quality industrial and logistics space within the region and justifies our decision to speculatively develop these units.
“Deutsche Post DHL is the world's largest logistics company and we are very pleased to welcome such a recognised and well-respected organisation to the park.”
William Wall, Director at Banks Long, says: “This scheme has undoubtedly set a new benchmark in terms of quality space for the region and it is brilliant to see this recognised with such a high-profile business agreeing to relocate here.
“Interest in the site and buildings coming forward is high and we expect DHL signing will only see this gain momentum.”
Simon Lloyd, Partner at Cushman and Wakefield, adds: "As the first speculative development of this scale to take place in Lincoln for over 10 years, the park has provided much-needed commercial space, and we have received considerable interest from local, national and global occupiers.
“We are really pleased to welcome DHL to St Modwen Park Lincoln. A huge organisation that operates throughout the world is a prestigious addition to an already vibrant scheme.”
Earlier this year, St. Modwen submitted a planning application for 75,000 sq ft of space, which forms the sites next phase of development.
St Modwen has already secured planning consent for more than 960,000 sq ft of space on the 70-acre Business Park, part of which has been developed with occupiers including Apogee, Turbine Efficiency and DPDUK.
Lincoln-based Banks Long is marketing the scheme with Cushman and Wakefield.