UPS has taken the last speculative unit at the PLP-developed Island Road scheme in Reading in the south east.
It had agreed a 10-year lease on the 127,500ft2 building, which it will use for parcel deliveries as part of its shipping and supply chain management business, utilising the scheme’s location close to the city centre and M4.Â
The property benefits from 12m eaves, 102 parking spaces, a secure 61m yard, 10 dock and two level surface doors, as well as open plan fitted offices across two floors.
The Island Road development comprises of three speculatively built units that are managed by LaSalle Investment Management, with the adjacent units having been let to Argos and Universal Electric Cooperation.
La Salle Asset Management manage the scheme while JLL, LSH and DTRE acted as joint agents.
This activity aligns with occupier take-up recorded across logistics locations in the UK, which reached 6.6 million ft2 in Q1 2021. Speculatively developed units represented 52% of the new floorspace transacted in Q1 2021.
