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
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
. 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 116,895sq.ft
and Unit 2 at 39,075sq.ft
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 (19,141sq.ft
been let to DX Network at £9.50
and another of 44,868sq.ft.
has been let to Charles Kendall
Freight at a rent rumoured to be
, a record level for this
area. A unit of 84,382sq.ft
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 84,000sq.ft
. Grade A
specification unit available now to
occupy in the market”.
Commercial Property Register
April – September 2018www.compropregister.com
It must lift the spirits of many
property people in the region
that the market has performed
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
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.
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”.
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