The Standard Life Investments
Heritage with Profits Fund has
secured three lettings for Fareham
Industrial Park, totalling over
scheme fully let.
Armorgard, a leading manufacturer
of secure storage for tools and
equipment, has taken 60,000sq.ft,
whilst HRP Limited has taken
both on ten year leases.
Completing the trio of lettings,
refrigeration and air conditioning
distributer Kooltech has relocated
on the estate taking a 15,000sq.ft.
unit on a ten year lease. The Fund
was jointly advised by Hellier
Langston and Hughes Ellard.
As one park becomes fully
let another opens. Merlin Park,
Portsmouth, the areas’ largest
speculative development for a
decade, is nearing completion.
The 6.5 acre site features
of space in seven
units for business, industrial and
warehouse uses and will be the
home of Hampshire Constabulary’s
new Eastern Police Investigation
Centre. Joint agents on the
scheme are Lambert Smith
Hampton & CBRE.
Commercial Property Register
April – September 2018www.compropregister.com
MARKET DUE FOR
One door closes
HMS Dauntless, Portsmouth
An analysis from JLL of global trends in the real estate industry
highlights the substantial changes that are taking place.
In particular, the demand for flexible working space is increasing, together
with what JLL calls a more dynamic workforce combined with greater focus
on employee performance and wellbeing.
At the heart of the faster market is the need to compete and be innovative
in terms of embracing technology in a digital age. This has to mean a
different set of priorities for developers and planners in providing the
structures to suit the new conditions.
Growing pressure to increase
defence spending in the face of
Russian belligerence and conflicts
in the Middle East will have an
impact in the region.
Apart from the Portsmouth Royal
Navy base, there is a substantial
defence related business sector
catering for all defence but especially
strong in the marine sector.
However, the Ministry of Defence
budget is under pressure so there
should be no surprise that the MOD
is seeking to both save money and
raise funds, mainly from property
sales. Here, Lambert Smith Hampton
(LSH) is using its online auction
system to sell MOD property.
Oliver Childs of LSH said: “We
have been pioneers of the online
auction over the past two years and
have developed a track record for
success having sold a wide variety
of property in the UK”.
The potential for development
of MOD assets is illustrated by
the schemes at Daedalus, Solent
The importance of the region’s
economy is well recognised and
has produced new investment in
transport links. One key junction
which is to be upgraded Is the
A34/M3 junction, which is heavily
used by vehicles moving between
Southampton docks and the Midlands.
Mike Short, Chair of the M3 Local
Enterprise Partnership, said: “The
improvements to Junction 9 are
critical to the strategic corridor that
runs all the way from the Port of
Southampton to the Midlands and
North which will help rebalance
the national economy”.
Another road upgrade in the
region is at the heavily used A31
An indication of the buoyancy of
the South Coast market is provided
by the industrial sector where
demand has been so strong,
said Lambert Smith Hampton’s
Adrian Whitfield. However, 2018
will be a key year as increased
supply kicks in although so far this
year Whitfield has seen a 15% rise
in enquiries, which supports his
prediction that rents will move
above £107.60 sq.metre
) for mid box properties
of 2,788 to 4,647 sq.metres
Interestingly, increased demand
for mid sized units rather than
smaller properties indicates
greater corporate long term
confidence as well as a shortage
of smaller properties.
One intriguing aspect of
Southampton is that people in
the city are prepared to take the
most risk when investing for the
future, according to a study by
Moneybox, followed by Edinburgh
and, surprisingly, Sunderland in
FAST PACE OF
mixed use development of the former Bargate Shopping Centre
(which will also open up hidden areas of the city’s medieval walls) will
move ahead with the start of demolition of the old area. It closed
because of the changing landscape of the business district, said