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
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 4,916sq.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
reflecting a blended net initial yield
Following the acquisition of the
128,202 sq.metres (138,000sq.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 2018www.compropregister.com
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
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
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
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
.) on the Fulcrum,
Poole to Schenker. Wilson said this
leaves 1 acre for development on
the 26 acre scheme.
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”.
Antelope Retail Park
OF THE PLANES