RO Group has acquired a freehold storage and distribution warehouse in Hemel Hempstead for £1.82 million from Medway Council.
Unit 1 Cherry Trees Court was secured at auction and is let to national distributor Bobby’s Foods.
The 7,684 sq ft warehouse in Boundary Way, within the well-established Maylands industrial district to the east of Hemel Hempstead, sits on a 1.09-acre site.
Purpose-built for Bobby’s Foods, the site serves as the company’s key North London distribution centre. The tenant has occupied the site on a long-term lease with current rent passing of £13.79 per sq ft with a rent review in 2026 and lease expiry in 2031.
Nick Cashmore, investment director for RO, said: “We are delighted to have invested in one of Hertfordshire’s most established industrial locations. The prime site offers strong fundamentals and supports our long-term strategy of building a resilient and income-generating portfolio with future upside potential.
“We were attracted to this site by the strength of the location, the reversionary potential with a rent review in 2026 and the very low site cover of 17.5 per cent offering excellent future development prospects.
“The site benefits from excellent connectivity given its close proximity to the M1, making it an ideal distribution hub for Bobby’s Foods’ North London operations. With a growing base of national and regional occupiers continuing to drive demand in the area, we anticipate significant long-term value creation.
“We continue to seek regional opportunities similar to Cherry Trees Court, with a particular focus on well-connected sites with the scope for future development and strong demand.”
The RO was advised by Aurum Real Estate and Womble Bond Dickinson.
© Eastern Echo (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.
