South Coast Central Issue 37 April 2018
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A new life is on the way for

Bournemouth Airport after tech

entrepreneur Sir Peter Rigby

bought it from Manchester

Airport Group (MAG),

This continues Sir Peter’s purchase of

UK airports, having already acquired

Exeter and Norwich. Bournemouth

lost £6.3 million in its last financial

report even though MAG has

invested £50 million in the airport.

Sir Peter said: “The acquisition of

the airport is an important landmark

in our strategy of creating a robust

and credible group of regional

airports and services across the UK.

Not only does it expand our catchment

to include major regions of southern

England but also focuses operations

on a core market poorly serviced

by the major aviation players”.

A particular point about

Bournemouth is how active the

hotel investment market has

become with the latest deal the

sale of Topland’s 83 bed Hallmark

Hotel through Christie to Motoring

and Leisure Services (MLS). GVA

acted for MLS.

Christie’s Alex Campbell said: “The

market for hotels in Bournemouth

is robust with demand outstripping

supply for good quality premises”.

Similarly, Goadsby has had a

strong year for hotel sales handling

the 5 star Balincourt Hotel and

23 bed Liza Inn, where the Russian

owners sold to Turkish operators.

Goadsby’s Ian Palmer commented:

“It was encouraging to be busy

during the latter part of last year

given the uncertain period we are in,

though it is an indication of how

robust the local hotel market is”.

While there is a shortage of

industrial properties, at least the

flow of new developments has

increased.

A good example is Peel Logistics,

£30 million South Central scheme at

Test Lane, Nursling which is nearing

completion with a pre let of the

46,000

sq.ft

. Unit 3 to the first

occupier, John Lewis Partnership

which is preparing to take occupation

in September. The two remaining

units are Unit 1 at 116,895

sq.ft

.

and Unit 2 at 39,075

sq.ft

. which

will both be ready earlier in May.

Joint agents are Lambert Smith

Hampton (LSH) and JLL. Southampton

City Council Leader Simon Letts said:

“I am not surprised at the high

interest in this well located dockside

site and the city looks forward to

welcoming the new occupiers and

the employment they will bring”.

At Chandlers Ford, a £20 million

industrial and warehouse scheme is

complete at Alpha Park, one of the

first (of many) speculative schemes

(by Bencote Properties) in the

region for some time. One unit of

1,779 sq.metres (19,141

sq.ft

.) has

been let to DX Network at £9.50

per

sq.ft.

and another of 44,868

sq.ft.

has been let to Charles Kendall

Freight at a rent rumoured to be

£10 per

sq.ft

, a record level for this

area. A unit of 84,382

sq.ft

. remains

available through LSH.

Jonathan Maher of Bencote said:

“Southampton is a market we believe

in strongly, which is why these units

were built on a speculative basis”.

Adrian Whitfield of LSH said:

“Our focus having secured DX and

Charles Kendall is to now identify

an industrial or warehouse occupier

for the only 84,000

sq.ft

. Grade A

specification unit available now to

occupy in the market”.

Commercial Property Register

April – September 2018

www.compropregister.com

21

NEWS

Branson

It must lift the spirits of many

property people in the region

that the market has performed

so strongly.

It is not a flash in the pan event

but has been building for many

years and is led by a buoyant

industrial market which is setting

new records for space developed

and rents.

The spread of the new schemes

has to be of enormous importance for the economy and the size of the

units being built indicates a thriving medium sized industrial base.

To this, can be added the stimulus that is likely to come with increased

defence spending as a result of Russian intransigence internationally.

Equally important is that the institutions clearly like the prospects for the

region and are buying investments and funding developments. Here the

notable feature is the amount of speculative industrial space being

constructed, even ahead of the rest of the UK.

Fortunately, the South Coast also has a highly charged group of agents

that are driving the deals through, also helped by the sensible policies of

the local authorities.

Developers

ACTIVE

Moves are being made to develop a Local Development Order for the

Dorset Innovation Park at Winfrith. The order will have the effect of fast

tracking planning consent for future employment and supported uses on

the site, subject to a number of conditions and residents are being invited

to have their say on what these conditions should be, as well as the design

of the site.

The site is Dorset’s second largest strategic employment site and it is

developing an advanced engineering and manufacturing cluster based in

marine, defense and energy technology. Plots of 0.5 acres are available for

sale through joint agents Sibbett Gregory and CBRE.

Lorna Carver, Dorset Local Enterprise Partnership Director said: “Dorset

Innovation Park is expected to facilitate 2,000 new jobs and attract dozens

of new businesses to the area. The site boasts 50 hectares of land, of which

35 hectares can be developed. Having a Local Development Order in place

will smooth the path to achieving its economic ambitions by simplifying

the planning process for subsequent investments”.

South Central

IN BRIEF

Victory

Communications, a unit of BT Local Business, has moved to

One Port Way, Port Solent Marina, owned by Northwood Regional UK

which has an extensive portfolio along the South Coast. LSH acted for

Northwood. Barry Saunders of Victory said that because of so many

changes in business communications “businesses are thinking way

beyond email and internet access and are making the most of the

benefits of cloud storage, voice over internet technology and video

calling”.

Fast

LANE

A NEW

life beckons