Office to logistics scheme for Hemel Hempstead
Kier Property has acquired a 100,000 ft2 office building in Hemel Hempstead which it intended to redevelop as a best-in-class trade and logistics scheme.
By Liza Helps Property Editor Logistics Matters
THE PROPERTY known as The Peoplebuilding on Maylands Avenue was acquired in an off market deal from Aviva Investors, which had been looking to dispose of the property for some time.
It totals some 100,000 ft2 and sits on a plot of 4.4 acres. The site is about mile from Junction 8 of the M1 motorway.
Back in 2012 it was reported that Aviva had been looking at alternative uses for the site that included retail and distribution uses.
It is likely that Kier will look to redevelop the site under the auspices of its Trade City and Logistics City Brand
SBY Real Estate advised Kier.
