Sherwood Park lease extension
Sherwood Park business park, located at Junction 27 of the M1 is regarded as one of the UK’s most successful Enterprise Parks, when designated in 1999. With over 2 million sq ft of logistics space developed, the park is home to a wide range of logistics businesses. Acting on behalf of landlord AXA, THP negotiated the renewal of the lease with tenant the educational resource division of RM plc on a 111,222 sq ft building on the scheme, and despite coinciding with the height of the first wave of the Covid-19 pandemic, the resilience of the logistics sector was reflected in the fact that THP were able to secure a substantial increase in the rent for their client as part of the deal. This was also achieved despite the unusual circumstances of there being a large amount of competing available space on the estate resulting from the recent administration of a major space occupier.
