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The recently refurbished Tolbar

House at Hedge End is now full

after Solent Pizza Group took

space there through Hughes

Ellard for £199 a sq metre

(£18.50 a

sq.ft

.).

Owned by Horatio Properties, the

refurbishment brought the division

of the top floor into smaller units.

Russell Mogridge of Hughes Ellard

said: “There is little by way of quality

offices in and around Hedge End,

which is popular because of the

road and rail connections”.

Another Hughes Ellard deal was

the letting of offices to the

automation software company

Cortex in Kings Park House on the

top floor while the second floor

is also under offer. The property is

another that has been refurbished

in a £2 million contract.

The mixed use Town Quay

scheme has also proved to be

popular and the latest company to

take offices there is the corporate

recovery firm Quantuma, which has

moved from another location in the

city in Beresford House.

Andy Gibbs of letting agent LSH

commented: “The continued success

of Town Quay, which is owned by

Associated British Ports, as a

business area reflects the general

optimism in in the economy in

Southampton and beyond”.

Winchester has many attractions

for business as well as tourism

because of its history and

excellent communications.

So it is no surprise that it appears

to be moving up the list of cities

attracting increased inward

investment.

In one of the largest lettings in

recent history, Skanska has leased a

1,394 sq.metres (15,000

sq.ft

.)

office at Trafalgar House in the city

centre through Goadsby and CBRE

on behalf of Gentian Development.

Skanska has a new contract to

maintain Hampshire’s roads

The Grade II listed building is

being refurbished. Goadsby’s Allan

Pickering commented: “Office rents

across the south have been increasing

in recent months and achieving

Winchester’s highest recorded rent

comes as a result of the continued

reduction in quality space coupled

with increased demand”.

Another new arrival in Winchester

is RBS Scaffolding which bought a

unit on Legal & General’s Winnall

Industrial Estate through LSH jointly

with Hughes Ellard.

Winchester City Council is pushing

ahead with improving the city and

has appointed architects Lifschutz

Davidson Sandilands to take

forward the Station Approach scheme.

Counciller Caroline Horrill, the

Council Leader, put the scheme in

context by saying “Station Approach

is an important aspect of our vision

for the city’s future and will allow

us to offer much needed Grade A

office space to the business

community who are regularly

requesting premises of this calibre

in the city. The next step is to

develop concept designs”.

Another step in the process

of change is that the council

plans to refurbish the tourist

information centre at the

Guildhall with a fresh modern

look and new digital functionality

and better represent businesses

in the district.

This is a logical move given the

growth of tourism and business in

Winchester. For example, tourism

income has increased from £292

million at the start of 2010 to

£358 million by the end of 2015.

Commercial Property Register

October 2017 – March 2018

www.compropregister.com

19

NEWS

Branson

There are a number of solid

reasons why the region is doing

so well and has the promise of

future growth.

The first is that transport

improvements now on the cards

will free up a number of key routes.

Several of these are aimed at

eradicating the bottlenecks on the

A27/M27, such as the new bypass

around Arundel.

There is also the upgrading of the M3 to a smart motorway and a

number of small improvements elsewhere on the south coast.

As part of the transport scene, there are the key roles of the airports

at Bournemouth and Southampton, with their attractions for high tech

businesses. Indeed, this theme of pulling in technology companies

extends widely through the region, notably at Southampton Science Park

and the role being played by the universities.

The industrial property market is particularly strong at the moment

and together with offices, there is a crying need for new developments,

although there are also optimistic signs here as well.

These are the essential ingredients for a modern industrial economy

and in the case of the region bring results in terms of boat building and

Rolls Royce Cars at Goodwood. It also helps to have a large Royal Navy

presence in Portsmouth, now substantially reinforced by the first of two

large aircraft carriers that act as massive symbol for the region.

WINCHESTER

HAS WINNING

FORMULA

RO buys

AGAIN

RO is a property group which has proved to be fast on its feet in

choosing assets and locations in the UK that offer potential for growth.

At the moment the company clearly favours Southampton because it has

added to its purchase of Waterside Place in 2016 with the acquisition of the

1,630 sq.metres (17,550

sq.ft.

) West Park House, which is in the centre on

the junction of Cumberland Place and Bedford Place.

Nick Moore of RO commented: “The property has prime asset

fundamentals providing good locational and income diversification to our

other Southampton asset. This is a city which is recognised as a strong

performer”. He noted that the office vacancy rate in Southampton was only

7%, or 27,870 sq.metres (300,000

sq.ft

.), only a year’s supply.

Russell Mogridge

Refurbishment

PAYS

IN BRIEF

Selco

Builders Stores have taken two units through London Clancy and

Colliers International in Portsmouth and Poole. In Portsmouth, it is a

2,787 sq.metres (30,000

sq.ft.

) unit in North Harbour Spur and in Poole

a 3,252 sq.metres (35,000

sq.ft

.) at Fleets Corner. Both agents are now

seeking a unit for Selco in the Brighton area.

Trafalgar House