Apart from the new industrial developments in and around major
cities in the region, there is a new speculative scheme for Fareham
close to Junction 9 of the M27.
Planning permission has been given for a self-contained unit of
4,645 sq.metres (50,000sq.ft.
) on a 2 acre site at Segensworth for a
scheme by Marick Real Estate with letting agents JLL and LSH.
It is an established area where the occupiers include Royal Mail, Gestamp
and Estee Lauder.
David McGougan of JLL said: “This building offers a significant employment
opportunity for the borough and seeks to address the shortage of industrial
and warehouse space in the region”.
Unusually for Lymington it now
has the first speculative office
building on the south coast for
Stirley House has been developed
by Westfield and is being marketed
by JLL and Warwick Martel and has
a variety of different sized units.
Nella Pang of JLL said: “It is
excellent to see such a high quality
building being constructed along the
south coast, which suffers from an
acute lack of office space. While we
have seen industrial new build come
out of the ground in recent years, it
has been some time since there has
been a speculative office building”.
Pang noted that there was
considerable interest from local
businesses. Simon Martel of Warwick
Martel said: “Stirley House is in a
tranquil position on the eastern
boundary of Ampress Park with a
Commercial Property Register
October 2017 – March 2018www.compropregister.com
By any standard the south coast
industrial market seems to be
bucking the trend of the
economic indicators pointing to
a slowdown in the growth rate
in the UK.
The hope must be that this is
not a delayed reaction to the
uncertainty being generated by
Brexit, but the fact is that the
amount of prime industrial space
is increasing in the region, said
Lambert Smith Hampton.
The amount of prime space
available in the second quarter
of 2017 was 58,015 sq.metres
.), an increase of
17% on the first three months.
Impressively, it has increased by
58% in the past year. Having prime
space available helps the inflow of
Adrian Whifield said: “The number
of high quality developments
coming to the market is easing the
pressure of the shortage and will
be welcomed by businesses that
have been crying out for first rate
sites”.He foresees an increase in
take-up this year.
Reinforcing Whitfield’s point,
nationwide courier and logistics
company DX Network Services has
become the first company to take a
unit at Alpha Park, the major new
development at Chandlers Ford. The
company has taken a 19,141sq.ft
unit, on a ten year lease, at the
£20m site to service its home
delivery contract with IKEA.
Lambert Smith Hampton and
Colliers were the joint agents on
Lambert Smith Hampton also
expects rent rates for mid-box
industrial units on the South Coast
to exceed £10 persq.ft
. in 2018 as
demand continues to outstrip
supply. The rate of rent persq.ft
seen by landlords and occupiers
alike as a market barometer, has
been steadily increasing amid a
continued squeeze on desirable
units larger than 10,000sq.ft
along the M27 and M3 corridor.
Adrian Whitfield, said:
“We know that historically rent
rises along the M27 consistently
track those further towards London
and around the M25 where we are
already seeing rents of £11.50 -
. achieved on
A FIRST FOR
Clancy have let two buildings at Quadrangle Park, Southampton;
one of 9,500sq.ft.
to Redlux Ltd, who provide non-contact 3d metrology
and a 23,000 sq. ft. R&D high office content building let to Lumenisity
Ltd, who have evolved out of the University of Southampton providing
advanced fibre optic cable solutions.