Aberdeen Buys £16.5m Hemel Hempstead Distribution Warehouse

Aberdeen Asset Management has acquired Palmer & Harvey’s (P&H) new distribution warehouse in Hemel Hempstead from Gazeley for £16.5 million.

Gazeley let the 168,000 sq ft shed to P&H two months ago on a 25 year lease with five yearly fixed uplifts.

Gerald Eve associate George Underwood who advised Aberdeen Asset Management on the acquisition said: “This deal offered a rare opportunity to acquire a newly built South East distribution unit with annuity length income”.

Gazeley was advised by CBRE and Savills.