Previous Page  14 / 48 Next Page
Information
Show Menu
Previous Page 14 / 48 Next Page
Page Background

When a city has a dwindling

supply of offices then inevitably

rents increase and investment

become more attractive, as we

clearly see along the south coast.

There are a number of recent

investment deals that underline this

view, such as the sale of Compass

House, opposite the Law Courts in

Southampton, through London

Clancy, to a private buyer for around

£1.2 million.

Flude Commercial similarly have

experienced a high demand by

investors to sell their properties and

have taken advantage of the strong

market selling Exchange House,

Petworth for £950,000 in August,

reflecting a net initial yield of 5.56%.

The building comprises 4,916

sq.ft.

of office accommodation, and is let

to Savills (UK).

Flude also handled the sale

of Midland House, Southgate,

Chichester, a mix of retail & offices

totalling 8,304

sq.ft.

for £2,200,000,

reflecting a blended net initial yield

of 5.88%.

Investment

FLOWS

Following the acquisition of the

128,202 sq.metres (138,000

sq.ft

.)

Antelope Retail Park in

Southampton, First Property

Asset Management (FPAM) has

appointed Stiles Harold Williams

(SHL) as manager of the park.

This continues SHL’s relationship

with them which covers a range of

properties. In this case FPAM bought

it for a client. SHL’s Clive Richardson

said: “We have an ongoing trusted

relationship with FPAM”.

At another retail park in

Southampton, Bradbeers, a major

revamp has led to Smyth Toys

taking a large extended unit through

LSH whose John Butt said: “The

refurbishment has seen an otherwise

tired and lacklustre park greatly

improved through strategicmanagement”.

In Portsmouth, the refurbishment

of two units at Burrfields Road, close

to the Ocean Retail Park, has opened

up a new retail or trade counter

opportunity. Guy Jackson of LSH said:

“The site has excellent road links and

is a prime location enjoyed by

established outlets such as Toys R Us,

Currys, PC World and Halfords”.

Commercial Property Register

October 2017 – March 2018

www.compropregister.com

14

NEWS

Airports feature strongly as

growth points in the economy of

the region, led by Bournemouth

and Southampton, each with a

robust expansion programme.

In the case of Bournemouth,

Manchester Airport Group (MAG)

is showing the way with transport

improvements and new commercial

property facilities, mainly at Aviation

Business Park. In total there are

60 hectares of development land,

which will be underpinned by a £40

million investment in transport by

the Dorset Local Enterprise Partnership.

That means a more efficient road

network, the current investment

being in the Chapel Gate Roundabout.

As Dorset’s major business park,

it plays a key role in the local

economy and has over 200 businesses,

illustrated by the 14,864 sq.metres

(160,000

sq.ft

.) advanced

manufacturing plant of AIM Altitude.

Meanwhile, Bournemouth town

centre has its own ambitions to

improve, centred on a new business

improvement district (BID) where

the council is seeking a new chief

operating officer.

The council says Bournemouth

“has a continuously expanding

digital economy, a dynamic tourist

industry and a nationally significant

financial services sector”. Martin

Davis of the town centre BID said:

“We have had a very productive 5

year period where the BID achieved

countless successes”.

The economic success extends to

Poole where the industrial market

is in rude health with Goadsby and

Nettleship Sawyer marketing seven

new units at Holton Point, Holton

Heath Trading Estates. Chris Wilson

of Goadsby commented: “Our client

has built a track record for building

some of the best quality

industrial/warehouse units in

Dorset and this scheme will,

hopefully, be of interest to both

owner occupiers and investors”.

Elsewhere, Goadsby and

Nettleship Sawyer have acted for

GP Commercial Investments in pre

letting a 1,686 sq.metres unit

(18,152

sq.ft

.) on the Fulcrum,

Poole to Schenker. Wilson said this

leaves 1 acre for development on

the 26 acre scheme.

IN BRIEF

Room 2

is to open a 71 room apart-hotel on Queens Terrace,

Southampton in Spring 2018. Robert Godwin, founder of Room 2, said:

“We are excited to bring to Southampton what we feel is the first stylish

hotel space. We see a big need for high quality hotel accommodation in

the city and we aim to deliver it”.

POPULAR

retail parks

Antelope Retail Park

Buzz

OF THE PLANES