HEADLINES INSIDE THIS ISSUE Growth of South Coast team continues with series of hires Beware changes to business rates with Revaluation 2023 on the horizon Bournemouth team expands to new office at Wessex Fields Expert property advice, delivering competitive advantage. Office deals result in annual awards hat-trick Along with our full property listings
Offices to let from 2,883 - 14,908 sq ft Nik 07870Cox557 ncox@vailwilliams.com410 l Open plan flexible floorplate l Communal break out facilities l 13 cycle and 18 car parking spaces l 2 electric car charging points l New shower and changing area l Fitwel certification for healthier workplace environments Andy AHodgkinson@lsh.co.uk07702Hodgkinson801595 3 Waterside Place 5,266 sq ft - 10,681 sq ft 50 car parking spaces 5 Waterside Place 4,184 sq ft Available 8 car parking spaces Nik 07870Cox557 onedorsetstreet.co.ukemma.lockey@cbre.com07825Emmancox@vailwilliams.com410Lockey357481#feelbetterworkbetter watersideplace-southampton.co.uk Refurbished office space with breathtaking views over the harbour from every floor. l New air conditioning l New raised floors l Suspended ceilings with LED lighting l New shower facilities and WC’s l Generous on-site car parking l Fitwel certification for healthier workplace environments OFFICES TO LET FROM 5,266 - 10,681 SQ FT
PAGE 3vailwilliams.com To comment on this edition or to advertise with us please contact Talia Jones on tjones@vailwilliams.com or via 07785 535 933 Savannah House 3 Ocean Way, Ocean Village Southampton, SO14 3TJ 5 Vail Williams expands to new South Coast office 6 Office deals – annual hat-trick for Vail Williams 9 Should I stay or should I go? When is relocation right? 10-11 Build-to-rent revolution reaches maturity as investment booms 14 Revaluation 2023: Beware changes to business rates 16 The deals have been flying in 19 Investment valuations review… and what comes next ContentsWelcome to the latest edition of Headlines Magazine – Vail Williams’ South Coast commercial property Sincepublication.thelast edition, there have been a great many developments – both here at Vail Williams, and in the commercial property market generally, which we cover in this edition.
I am pleased to announce that, hot on the heels of our recent Thames Valley and London office relocations, our growing Bournemouth team has moved to a new Grade A office at Wessex Fields - a short distance from the town centre. This move will benefit both our team and our clients, allowing us to operate from a smart new space, boasting a good variety of facilities, as well as meeting rooms and collaboration space. We look forward to welcoming you there soon. Our wider South Coast team also continues to go from strength to strength, with the several new appointments in recent months and more in the pipeline, as we continue to invest in our services to meet client needs. This in turn has seen us achieve a series of new client appointments over recent months. This growth in client base and team has allowed us to continue on our award-winning streak, with our South Coast Agency announced by CoStar as the leading south coast office agents for the third year running.
I hope that you enjoy reading this edition of Headlines Magazine and do get in touch with a member of our South Coast team to discuss any specific needs you might have.
As the awards indicate, the property market across the South Coast continues to be buoyant – both office and industrial terms. Businesses continue to reassess their office needs and we are seeing this translate into a flight to quality and increased demand for flexible, fit to fly office space across the region’s major towns and cities. Meanwhile industrial demand continues to boom, and we are delighted to be supporting both investors and developers as well as occupiers to develop, market and let space across the region.
Gary Jeffries Regional Managing Partner, South Coast
It is an exciting time for the commercial property market on the South Coast currently, as we continue to support our occupier, investor, developer and landlord clients here to make the most of the opportunities that are available to them. You can review some of these in this edition – from offices to let, to industrial listings.
PAGE 4 vailwilliams.com OFFICE SUITEs TO LET Innovation Collaborationand hub, TECHNOLOGYPORTSDOWN PARK SOUTHWICK ROAD, PORTSMOUTH, PO6 3RU SUMMARY 2,352 sq ft (219 sq m) to 5,480 sq ft (509 sq m) CONTACT Alex Gauntlett on 07584 657826 or via email agauntlett@vailwilliams.com Secure site Grade A office fit out Car AuditoriumReceptionparkingfacilitiesandconference rooms Restaurant, café and gym facilities The state of the art Innovation and Collaboration Hub is set within Portsdown Technology Park, which is a Centre of Excellence in Maritime Mission Systems. These brand new office suites are hoping to attract occupiers across the Maritime, Technology, Security and Defence sectors, offering opportunities to work alongside QinetiQ and their partners in this outstanding environment. LOCATION Portsdown Technology Park offers easy access to the M27 (J12) and the A3(M). The property is set in a highly secure environment and benefits from panoramic views across Portsmouth City and Harbour.
Vail Williams is one of the largest independent providers of commercial and residential property advice in the UK. Holder of the Gold accreditation from Investors in People, the firm provides property advice for landlords, occupiers, investors, developers and landowners in both the public and private sector, across the UK.
Property consultancy Vail Williams has underlined its commitment to growth on the South Coast with new premises.
The relocation within Dorset, to Bournemouth from near Wimborne six miles away, comes a year on from the advisory firm merging with Cowling & West.
VAIL WILLIAMS EXPANDS TO NEW SOUTH COAST OFFICE
Other occupiers at Everdene House include law firm Dutton Gregory and Terence O’Rouke, the planning, design and environmental consultancy.
Vail Williams employs 172 people, of which 50 are partners, based across its 11 offices in the Midlands and south of England (Birmingham, Bournemouth, Brighton, Crawley, Heathrow, Leeds, London, Portsmouth, Reading, Southampton and Woking).
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Sequel Consulting, based in Guildford, carried out the fit-out for Vail Williams’ new office in Deansleigh Road.
Russell Miller, a Partner who leads the office, said: “The quality of our new premises reflects the quality of services to clients, from lease advice, property valuation and planning to asset management, property acquisition and “Ourdisposal.10-year
Vail Williams’ staff are now based at a 1,700 sq ft office in Everdene House, Wessex Fields, opposite the Royal Bournemouth Hospital and just off the A338 – a major route linking the UK’s 10th largest urban area with the A31 HampshireDorset corridor.
lease also underlines our commitment to the buoyant Dorset, Hampshire and Wiltshire region as we mark the first anniversary of Vail Williams merging with Cowling & West. “As well as the location, Everdene House is a superb base for the team and new hires – we are actively recruiting for a number of roles, including chartered surveyors.”
Last month (March), Vail Williams reported record-breaking revenues of £16.86 million for 2020-21, up from £15.5 million the previous year. With 11 offices across the UK, the firm also expanded geographically, increased staff numbers and grew its client base.
Looking for
Four companies moved into refurbished office suites at The Slipway, Port Solent, Portsmouth in the second half of 2021, leaving just one of the 27 purpose-built units available – 715 sq ft on the first floor. Occupiers are load sensing technology specialist Cyclops Marine, cybersecurity consultancy Modsec, internal fit-out and façade specialists MTEC Walling and Solent Sewing and Welding Machines, which supplies sewing and welding machinery to industrial textile industries along with marine fabrics and accessories. In Portsmouth, Markerstudy Broking signed up to 11,259 sq ft of space at the Lakeside North Harbour business campus.
TheAwards.independent won the most active disposal agent by square footage in the previous two years and most active disposal agent by number of deals in 2020 as well.
“Companies are increasingly discerning about workspace requirements as employees return to offices following the pandemic. We are proud to play a role in helping businesses grow.”
Get in touch with the
The recognition comes from CoStar, a global leader in commercial real estate information.
Nik Cox, a partner at Vail Williams’ Solent region, said: “It is the third consecutive year that we have won category awards on the South Coast by CoStar.
The CoStar accolades come as Vail Williams reported recordbreaking revenues of £16.86 million for 2020-21, up from £15.5 million the previous year. the right commercial property? Vail Williams agency team
via agency@vailwilliams.com NIK COX
Analysis by CoStar ranked Vail Williams as the most active disposal agent for square footage and most active disposal agent for the number of deals made in the 2022 CoStar Annual Agency
The business will be the first in at Twenty3 Brunswick Place following a comprehensive refurbishment, with four remaining upper floors to let from 13,000 sq ft to 52,345 sq ft.
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Property consultancy Vail Williams has led the field on office transactions for the third consecutive year on the South Coast.
OFFICE DEALS ANNUAL HAT-TRICK FOR VAIL WILLIAMS
Office deals by Vail Williams include Utmost International, which provides insurance-based wealth solutions, moving 60 staff into 2 Charlotte Place, Southampton. Global engineering, architecture and consultancy company Ramboll pre-let 12,077 sq ft on the ground floor at a flagship green building in Southampton city centre, signing a 10-year lease commitment.
Vail Williams has 11 offices across the UK, including in the port cities of Southampton and Portsmouth.
PAGE 7vailwilliams.com OFFICE SUITEs TO LET DELME PLACE, CAMS HALL ESTATE FAREHAM, PO16 8UX SUMMARY 3,895 to 17,800 sq ft (362 to 1654 sq m) CONTACT Russell Mogridge on 07815 737175 or via email rmogridge@vailwilliams.com Recently refurbished Ground and first floor high quality office suite Comfort cooling Full access raised floors Allocated parking (1:256 sq ft) Accessed via J11 of the M27 Delme Place is situated on the 220-acre Cams Estate, an established and successful business park, set in a beautiful awardwinning landscaped conservation area. The campus benefits from stunning surroundings including the adjoining 27 hole golf complex and outstanding views to Portsmouth Harbour. On site facilities include The Dovecote Eatery and Cams Mill restaurant. www.cams-estate.com
PAGE 8 vailwilliams.com TOOFFICELET 2nd floor, 2 royal court CHURCH GREEN CLOSE, KINGSWORTHY, WINCHESTER, SO23 7TW SUMMARY 3,000 to 6,746 sq ft (279 to 626 sq m) CONTACT Nik Cox on 07870 557410 or via email ncox@vailwilliams.com Modern detached office 31 parking spaces Open plan floor plates NewLiftAir-conditionedLEDlighting 2 Royal Court is a detached three storey modern office building, built just over 10 years ago. The second floor suite has been refurbished to provide accommodation to suit modern office occupier needs. LOCATION The property is situated on one of the newest office schemes in Winchester, at the interchange between the A34 and the A33. 2 Royal Court occupies a prominent position visible from the A33 Basingstoke Road.
Lease Expiries An obvious one perhaps, but it pays to think creatively about what can be achieved when renewing a lease on existing premises. Dialogue Why wait for an excuse to start a conversation? In many circumstances neither landlord nor tenant are prejudiced by an open and frank conversation about their respective business interests. In commercial property, win-win scenarios should be the norm, not the exception!
Should I Stay or Should I Go? (You’ve Got to Let Us Know)
A tenant might expect to achieve a rent free or similar incentive or mitigate to some extent the impact of a forthcoming rent review, while the landlord can preserve capital value and rental income. Rent Reviews A rent review clause constrains the landlord and tenant to a hypothetical valuation scenario which is often divorced from reality. A tenant might consider a lease restructure or extension as a means of mitigating rental and/or lease liabilities. Meanwhile, the landlord again stands to benefit from extended contractual income and corresponding increased capital value.
In a fast-moving economic environment, it is common for a business to find that existing premises are no longer ‘fit for purpose’. When this situation occurs, occupiers can jump straight to relocation in search of a solution. In some cases, they might wait for the next break option or lease expiry to act. Yet occupiers may wish to consider alternatives to relocation, which can be both costly and disruptive, by working in collaboration with their existing landlord. Lease restructuring is not right for every business, nor every circumstance, but is certainly worthy of consideration. Landlord and tenant engagement is key, as there is often mutual benefit to be found in understanding respective business interests.
A tenant-only break option always has value to an occupier, irrespective of whether there is an intention to break the lease, but this can go unrecognised.
Break Options
WALKER
Break options represent uncertainty for a landlord, and the capital value of their asset will often diminish leading up to the option date. If a tenant does not require, or is willing to forgo the flexibility, why not consider varying the lease?
Contact us to discuss whether a lease restructure might be right for your circumstances?
JOE
vailwilliams.com PAGE 9 Need help navigating your next move?
For a landlord, best interests will usually be served by retaining and prolonging occupancy, enhancing both income and capital value. It rarely makes commercial sense to lose a ‘good’ tenant. Meanwhile, a tenant is primarily concerned with ensuring that their premises add value to the business – whether providing modern office premises ideally suited to changing working practice and colleague/client engagement, or accessible warehousing optimised to specific business requirements. Where these interests align, there are opportunities to be exploited.
Perhaps an existing warehouse is ideally situated but undersized, with scope to extend? A commercially minded landlord could consider undertaking works in exchange for an extended lease term or improved rental income. Alternatively, a tenanted office premises might require modernisation – flexible workspace, enhanced meeting facilities, showers and improved environmental credentials are increasingly sought after to suit changing working practices, and to attract and retain the best So,talent.what are potential triggers for a negotiation?
What is Build-to-Rent (BTR)?
BOOMSINVESTMENTMATURITYREACHESREVOLUTIONBUILD-TO-RENTAS
The private rented sector has long been dominated by a patchwork of small buy-to-let landlords. BTR, by contrast, attracts global capital from the likes of Goldman Sachs, Greystar and Macquarie, as well as domestic players such as Lloyds Banking and even John Lewis.
For more information about investment or development, whether on the south coast or across the UK, contact investmentteam@vailwilliams.com
GARY JEFFRIES
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An additional 80% of capital was funnelled into BTR last year –some £500m more than in 2020, in spite of the pandemic.
Indeed, Lloyds is planning aggressive expansion in this sector, with intentions to build up a portfolio of some 50,000 rental homes by 2030 which would see them leapfrog Grainger plc.
As the chronic shortage of housing persists and the UK’s private rented sector continues to struggle to meet demand, the BTR revolution looks set to continue, with investment this year expected to exceed the £4.1bn highs of 2021.
In 2021, Grainger plc’s first BTR development in Southampton, Gatehouse Apartments, achieved record lease-up as the 132home was fully let eight months ahead of programme. Such is the demand in this sector that banks, property funds and other institutional investors poured a record level of money into BTR in 2021.
The residential build-to-rent (BTR) market is reaching maturity as a range of schemes fly off the shelves across the UK, amid booming rental demand. Across the South Coast, BTR is making significant progress, particularly in Southampton and Bournemouth.
This growing interest in gaining a slice of the BTR investment pie, sees close to £2bn worth of deals already in the pipeline for 2022.
Build-to-rent developments are typically purpose-built blocks of flats operated by specialist corporate landlords. The concept is Need expert insight on BTR?
Investor confidence in the BTR market is growing, but could there be potential flies in the BTR ointment?
The BTR model has been gaining momentum in the UK over the past 10 years, taking off in the last 18 months as new housing supply has struggled to meet rising demand for rental properties.
• Packaged Living also acquired The Castings, east of Piccadilly Station, in partnership with Fiera Real Estate Fund. The scheme forms part of the Portugal Street Masterplan and will be one of the standout residential offerings in Manchester city centre.
Long-term renting, whilst on the increase, is not yet a fully-fledged trend. Only time will tell if this evolves to be the case, as younger generations come into the housing market. What we do know is that the current housing delivery model is not working. BTR therefore represents an undeniable opportunity to address the housing shortage. Here in Southampton, investors and developers have been quick to recognise this, including Grainger which is targeting the city for long-term investment. With other pipeline schemes here including Leisure World, Maritime Gateway and Bargate Quarter, it is an exciting time of BTR opportunity for Southampton and its wider regional Weeconomy.lookforward to seeing what the rest of the year will bring for BTR, as the sector starts to come to maturity.
• Barings, one of the world’s largest diversified real estate investment managers, acquired The Trilogy, in Manchester from Moorfield for £53.3m.
• Meanwhile in London, AXA’s £800m landmark Dolphin Square purchase at Pimlico in 2020 was notable. Pocket Living, which is majority owned by US giant Related, is now delivering its first 400-unit BTR scheme at Old Oak.
Future flies in the BTR ointment?
• Elsewhere, Australia’s Macquarie, acquired its first UK BTR investment through new platform Goodstone Living, with Eutopia’s £130m Camp Hill Gardens in Birmingham.
For more information about investment in or development of BTR schemes, whether on the south coast or across the UK, get in touch.
• Singapore’s CDL Hospitality Trust marked their entrance into the UK BTR market with a £73.3m deal with Fiera Real Estate and Packaged Living in Manchester.
• And in Liverpool, BMO agreed to forward fund a deal for 258 flats at Hughes House with £40m from their BMO UK Housing Fund.
PAGE 11vailwilliams.com well established in Europe, where long-term renting is the norm.
With demand 43% above the five-year average, BTR schemes are coming to market to plug the gap. Why BTR? BTR schemes often boast a range of additional facilities built in to suit modern, urban lifestyles – from gyms to coworking space. Operators of BTR schemes also espouse the benefits of a more professionalised rental experience, which avoids the issue of unscrupulous landlords so prevalent in the private rented sector. Many schemes also offer longer term tenancies and more predictable rents, making them much more appealing to the longer-term renters. Meanwhile for others, BTR opens up additional housing options for those who are looking to buy in the future but who may be priced out of the homeowner market. What is coming out of the ground, where? The majority of BTR schemes are located in cities with increased housing targets, with Manchester topping the charts for BTR popularity.
There remains a perception problem with BTR which is yet to be overcome. Some BTR developers have been criticised for delivering expensive flats that do not address the housing affordability crisis, with some claiming it only appeals to one type of (wealthy and middle-class) renter.
Forthcoming policy developments could also adversely affect the sector – from residential property developer tax which will introduce a new 4% tax on profits developers make, to the Planning Bill and the potential impact on BTR planning viability. There also remains a cultural hurdle to be overcome in the UK. Here, our houses are very much our castles, with homeownership the aspiration of the majority.
TOOFFICELET DRUM COURT THE SPAIN, PETERSFIELD, GU32 3NG The property comprises an L-shaped, 3-storey office building with 48 car parking spaces to the rear. The building is accessed directly from The Spain or from the rear car park. The ground floor reception provides access to an 8-person lift and a central core which in turn accesses the upper floors by way of main staircase. · Town Centre Location · Self-contained · Open Plan Offices · Allocated Parking LOCATION The property is located on The Spain which is just off Swan Street. The main High Street joins Swan Street rendering the property only 0.2 miles from the main town centre which houses several retail and leisure properties. Petersfield railway station is a short walk to the north with direct links to London. Road communications are provided by the A3 trunk road which links London and the M25 with the south coast and the A272 which provides access west to Junction 10 of the M3 at Winchester. SUMMARY 11,829 sq ft (1098.95 sq m) CONTACT Russell Mogridge on 07815 737175 or via email rmogridge@vailwilliams.com TOOFFICELET SHORE HOUSE NORTH HARBOUR BUSINESS PARK COMPASS ROAD, PORTSMOUTH, PO6 4PR SUMMARY From 4,984 - 10,334 sq ft (463 - 960 sq m) CONTACT Alex Gauntlett on 07584 657826 or via email agauntlett@vailwilliams.com Nik Cox on 07870 557410 or via email ncox@vailwilliams.com Shore House is a detached, prominent, two-storey office building with two selfcontained reception and core areas. Separate suites are available from 4,984 sq ft. • New LED lighting throughout • New air-conditioning • New carpet • New doors • New kitchen/breakout area • Fully refurbished toilets • Fully redecorated • Car parking ratio: 1:194 sq ft LOCATION The property forms part of North Harbour Business Park, a popular mixed use/office development located to the north of Portsmouth, close to Junction 12 of the M27 and Port Solent, with its attractive marina, shops & London/M25restaurants.and Guildford are easily accessible via the A3(M), with Southampton International Airport located approximately 20 miles east at Junction 5 of the M27. Direct trains to London are available from Portsmouth & Southsea, Cosham and Portchester stations. PAGE 12 vailwilliams.com
PAGE 13vailwilliams.com SUMMARY From 1,708 - 4,903 sq ft (159 - 456 sq m) CONTACT Matt Cureton on 07786 735596 or via email mcureton@vailwilliams.com Nik Cox on 07870 557410 or via email ncox@vailwilliams.com saxon house SAXON WHARF, SOUTHAMPTON, SO14 5QF Open plan office space with marina views is offered within Saxon House, a two-storey building with easy access to Southampton City Centre and the A27. • 6 car parking spaces • Flexible lease terms • 4 person passenger lift • Communal kitchenette • Separate male/female toilets • Can be accessed both internally or externally LOCATION The property is situated in Saxon Wharf, off Lower York Street, approximately 1 mile north east of Southampton City Centre. Neighbouring occupiers include Oyster Yachts, Merchant Agencyand Ocean Sports Tuition. TOOFFICELET
Complicating complexity: A new annual Duty to Notify the VOA of any changes to the occupation or physical characteristics of your property, adds more complexity to an already complicated process, with financial penalties for non-compliance.
Improvement Relief: Aimed at occupiers, this is a 12-month relief available for eligible improvements to an existing property. Any improvements made will impact your RV and associated business rates. Act now To avoid the many pitfalls of this complicated property tax, ensure your RV is calculated correctly, whilst making the most of the reliefs available to you, our expert business rates advisers can help. Our support can start now - from responding to VOA requests and advising on the financial impact of changes to your property, to challenging your new RV throughout the Check, Challenge & Appeal process. UK,
or contact ratinghelp@vailwilliams.com DANNY GEORGE Beware changes to business rates The next business rates Revaluation takes place on 1 April 2023. This is when the Valuation Office Agency (VOA) will reassess the rateable value (RV) of your business premises. Your new RV will be calculated based on rental values from 1 April 2021. What does this mean? Thanks to the pandemic and its effect on the property market, RVs will be calculated based on a distinct lack of transactional rental evidence. This could result in significant changes between your 2017 Rating Assessment, and 2023 – particularly for businesses based in or near to industrial premises, where rental values have seen significant growth. What will happen when • 1 April 2021: Date on which rental values will be used to calculate new RV • February 2022: Continued requests from VOA for rental information or property changes • 2022: VOA calculating RVs of all business properties • December 2022: Draft List expected to be published • 1 April 2023: Publication of Rating List 2023:REVALUATION
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Are you ready for the next RV era? For support, get in touch with our team of experienced rating surveyors based across the
Transitional Relief: Potential to benefit from rates relief for small businesses whose RVs increase significantly, capped at 15% for RVs up to £20,000 and 25% up to £100,000.
What to be aware of Potential mistakes and delays: The move to three-yearly Revaluations could put pressure on the VOA, resulting in RV inaccuracy or delays in processing cases.
Material Change of Circumstance: Certain categories will be excluded from appeal, including those arising from legislation, regulation, or licencing changes.
PAGE 15vailwilliams.com TOOFFICELET COMPASS HOUSE 26 COMPASS POINT, ENSIGN WAY, HAMBLE-LE-RICE, SOUTHAMPTON SO314RF SUMMARY 1,900 sq ft CONTACT Russell Mogridge on 07815 737175 or via email rmogridge@vailwilliams.com Waterfront location close to Southampton Comfort cooling & heating Structured network cabling to perimeter trunking Male, female & disabled toilets Suspended ceilings and recessed lighting Allocated car parking spaces Compass House is located within the popular and established South Point Business Park, home of the Royal Yachting Association headquarters, near the shore of Southampton Water. Compass House is a self-contained two storey building offering a combination of light & airy open plan and partitioned offices. It is situated next to an SSSI wooded area. LOCATION Just 3 miles from J8, M27, the property is located on the waterfront at Hamble-Le-Rice, which is a wonderful place to work and live, and is home to many international businesses, including the Royal Yachting Association and Coopervision. Compass House is 0.5 miles to Hamble Village, providing amenities, pubs and restaurants, yacht clubs and marina services. Last remaining Suite
PAGE 16 vailwilliams.com DEALSTHEHAVEBEENFLYINGIN Our Vail Williams transaction team has been incredibly busy over the last 6 months, navigating their way through the COVID-19 pandemic, clocking more than 100 finalised deals across the South Coast for a diverse range of clients and sectors. The 9-strong team across the Bournemouth, Southampton and Portsmouth offices have completed over 812,972 sq ft worth of transactions in 4 different counties, covering acquisitions, disposals, lettings, sales, investments and more during this time. Here is just a snapshot highlighting some of the key industrial deals that have gone through recently. If you are looking for advice on your next property, get in touch with us today at vwinfo@vailwilliams.com
PAGE 17vailwilliams.com Silver AirportPoint,Service Road, Portsmouth • Industrial • 40,436 sq ft • Mitchell Design Consultants UNIT FLEETSM, BUSINESSCORNERPARK, PoOLE • Industrial • 40,128 sq ft • Lush Manufacturing Limited DUNDAS SPUR, UNIT 2500 PortsmouthBLUEPRINT, • Industrial • 26,348 sq ft • GRP Solutions Ltd UNITS 6 & SEGENSWORTHCONCORDE7,PARK, • Industrial • 22,209 sq ft • Kingsbridge Estates Ltd UNIT CONCORDE8, SEGENSWORTHPARK, • Industrial • 13,787 sq ft • Kingsbridge Estates Ltd UNIT CENTURIOND, BUSINESS PARK, SOUTHAMPTON • Industrial • 12,004 sq ft • Staffordshire County Council UNITS 2 & 3, SPRING BUSINESS PARK, HAVANT • Industrial • 11,094 sq ft • Kingsbridge Estates Ltd Pension Scheme UNIT LOGISTICS3, PortsmouthCITY, • Industrial • 8,877 sq ft • Kier Trade City UNIT FAREHAM32, INDUSTRIAL PARK, FAREHAM • Industrial • 5,484 sq ft • Aberdeen Standard Investments SOLENT GATE UNIT 2, SPEEDFIELDS PARK, FAREHAM • Industrial • 5,070 sq ft • Columbia Threadneedle Investments SOLENT GATE UNIT 3, SPEEDFIELDS PARK, FAREHAM • Industrial • 5,070 sq ft • Columbia Threadneedle Investments SOLENT GATE UNIT 5, SPEEDFIELDS PARK, FAREHAM • Industrial • 10,045 sq ft • Columbia Threadneedle Investments LETTING ACQUIRED LETTING LETTING LETTING LETTING LETTING LETTING LETTING LETTINGLETTING ACQUIRED
PAGE 18 vailwilliams.com SUMMARY Unit 16 - 6,001 sq ft (558 sq m) Unit 17 - 5,154 sq ft (479 sq m) CONTACT Alex Gauntlett on 07584 657826 or via email agauntlett@vailwilliams.com Nik Cox on 07870 557410 or via email ncox@vailwilliams.com TOWAREHOUSEINDUSTRIAL/LET 16 & 17 compass point ENSIGN WAY, SO31 4RA Compass Point is located within South Point Business Park close to the attractive village of Hamble-le-Rice. The properties comprise a steel portal frame construction with brick elevations, double glazed windows and profile sheet cladding. 16 COMPASS POINT Unit 16 is a business unit suitable for HiTech, Lab, Marine, Office, Industrial or Warehouse use. A three-storey hybrid-style business unit, the ground floor benefits from a disabled WC, kitchen and a mix of office/workshop space. The first floor is currently fitted out as celluar office space, with a spiral staircase for access to 2nd floor offices. 17 COMPASS POINT Unit 17 is an industrial/ warehouse two storey building, offering a mix of office/workshop space. The first floor is mainly open plan with views to the rear over Southampton water. There is partitioning providing 3 meeting rooms. Both units offer the following: • Up and over loading door • Parking • Comfort heating/cooling • 3 phase electric • Gas supply • Views over Southampton Water LOCATION South Point Business Park is 4 miles from J8, M27 and 0.5 miles to village centre amenities and the waterfront. Occupiers nearby include NKT Photonics, the RYA and Coopervision that have multiple large industrial premises to the north of the estate. PointCompass1617CompassPoint
The RICS recently commissioned an independent review into valuations provided for real estate investment funds and companies following some highprofile criticisms of RICS valuers in the financial pages of the press during 2019.
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The RICS have recently announced a ‘call for views’ from valuers and stakeholders as part of a review of the Red Book, and these are conversations that will continue to be had during 2022.
Discounted Cash Flow Models – their relevance
Of course, the majority of residential investment activity will continue to evolve around single apartments, houses, and blocks of flats in all different shapes and sizes, that should in theory continue to be valued on a comparison basis or using the traditional all risks yield, following the approach taken by buyers and sellers in determining what price to pay.
While no one wants the valuation process to be more complicated than it needs to be, if it results in increased transparency that can only lead to the greater confidence in property valuations that everyone wants.
Application in the residential market
The recommendation which perhaps caused most controversy was No.8(i) which said that the “discounted cash flow should be the principal model applied to property investment valuation”. This methodology allows for any future growth expectation to be explicitly reflected in the cash flow and then discounted at an investor’s required rate of return. There was some initial concern that the RICS were to make the use of ‘DCF’ a mandatory requirement for all investment property regardless or type of Thesize.role of the valuer is, and always has been, to use the most appropriate model to estimate market value (that is, the expected price in the market), whether that is a straightforward comparison on a price per square foot, or a complex cash flow model. There is no one size, fits all and the Review’s focus on the larger property funds and institutions perhaps did not adequately reflect the whole of the market.
Get in touch Should you wish to discuss your residential or commercial valuation requirements, please get in touch with the team via valuationteam@vailwilliams.com DAN PEARCE INVESTMENT VALUATIONS REVIEW… AND WHAT COMES NEXT
All these form part of the residential sector. The point being that, like many parts of the wider property market, this sector has grown and become increasingly sophisticated. Many investors are forming a data led approach to assessing cash flows to derive value. In the same way, the review’s aim was to highlight that there are many asset types that investors buy (where there are multiple tenants and cash flows) that will be analysed by explicit DCF models.
Known as the Pereira-Gray Report, it was published in January this year.
The RICS has announced that it has accepted all the recommendations in the Report, including changes to CPD requirements and more specific guidance around avoiding conflicts of interest in valuation. Most of these have been welcomed by valuers and, in well organised firms, have already actioned as part of internal procedures.
A change in approach? Will valuers be forced to change their approach? Perhaps. More likely, DCF will begin to appear more and more as the primary or secondary (or ‘cross check’) methodology in valuation reports, with a greater emphasis on data interrogation being demanded on valuers, and likewise the owners of property to provide this.
We can use the residential market as an example of this. Earlier in this issue, Gary Jeffries talked about the growth of BTR as a sub sector of the residential market; the South Coast valuation team has also seen a marked uptick of HMO instructions, particularly from more upmarket operators building high quality portfolios; and the student accommodation market is also continuing to flourish - operators have shown a strong recovery post-Covid (Unite has reported 94% occupancy in 2021-22) suggesting that 2020 was a short term blip.
PAGE 20 vailwilliams.com Address Town Tenure Property Type Size Sq Ft Range Sq Ft Rent AreaSite Price Units 1 & 2, 44 Salisbury Street Amesbury OFFERUNDER Investment £800,000 Lower Guildhall, High Street Andover TO LET Cafe (A1), Restaurant 2017 2017 Redlands, Reading Road, Chineham Basingstoke SALEFOR Development Land, Investment acres17 £3,500,000 Fifth Floor Waverley House, 115-119 Holdenhurst Road Bournemouth TO LET Office 1449 1449 £26,082.00 Unit 5 The Boardwalk, Brighton Marina Brighton TO LET Leisure, Retail 2996 2996 Concept House Link 3, Link 414, Stoneycroft Rise FordChandlers TO LET Office 5992 18570 £23.00 113 Winchester Road FordChandlers TO LET Leisure, Restaurant, Retail 2174 2174 £35,000.00 24 South Street Chichester TO LET Restaurant, Retail 2252 2252 £67,500.00 Springfield Park, Bognor Road Chichester TO LET Industrial / Warehouse 20000 100000 £11.50 45 South Street Chichester TO LET Office 1276 5056 £101,000.00 34 South Street Chichester TO LET Leisure, Restaurant, Retail 3310 3310 £52,500.00 Sussex House, 12 Crane Street Chichester TO LET Office 1587 2126 £20.00 Unit 3 Stocklund House, East Street Chichester TO LET Retail 1013 1013 £48,500.00 Unit 2A The Courtyard, Vinnetrow Business Centre Chichester OFFERUNDER Office, Healthcare 1225 1225 £22,000.00 4 Buttermarket, North Street Chichester OFFERUNDER Retail, Restaurant 1493 1493 £55,000.00 Littlegreen Gardens, Compton Chichester OFFERUNDER Development Land, Land / New Build, Residential £750,000 Marina Development Site For SaleSwindon Village Marina, Swindon Dudley OFFERUNDER Development Land, Investment, Marine New Kings Court, Tollgate Eastleigh TO LET Office 2256 18248 £20.00 The Green, J13, M3 Eastleigh OFFERUNDER Office 18500 55000 36 Brunel Way, Segensworth Fareham SALEFOR Industrial / Warehouse 74891 74891 3 Development Platforms, Little Park Farm Road, Segensworth West Fareham SALEFOR Development Land 20000 200000 Development Platform, 3 Little Park Farm Road, Segensworth West Fareham SALEFOR Development Land acres4.5 22 Fareham Industrial Park, Standard Way Fareham TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 20530 20530 £8.50 Unit 9 Concorde Park, Segensworth Fareham TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 9431 9431 The Orangery, Cams Hall Estate Fareham TO LET Office 3023 3023 £60,000.00 Units 1 & 2 Logistics City Whiteley, Fulcrum 6, Solent Business Park Fareham TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 27563 27563 £10.50 Suite 3 Faretec, Cams Hall Estate Fareham TO LET Office 785 785 £18.50 Mariners House, Waterside Gardens Fareham TO LET Office 1000 4857 £23.00 Forum 5, Solent Business Park Fareham TO LET Office 3917 6641 £21.00 Delme 1, Delme Place, Cams Hall Estate Fareham TO LET Office 4533 9809 £21.00 First Floor South - Prism, 1650 Parkway, Solent Business Park Fareham TO LET Office 1636 1636 £20.00 33-34 Fareham Industrial Park, Standard Way Fareham TO LET Industrial / Warehouse 5534 11067 £8.50 Unit H2 Whiteley Shopping Centre Fareham TO LET Retail 1005 1005 £22,500.00 Delme 2 Delme Place Fareham TO LET Office 3895 7991 £21.00 Spectrum, 1600 Parkway, Solent Business Park, Whiteley Fareham TO LET Office 2577 2577 £17.00 South Barn Cams Hall Estate Fareham TO LET Office 2668 2668 £55,000.00 36 Brunel Way, Segensworth Fareham TO LET Industrial / Warehouse 74891 74891 Forum 3, Solent Business Park Fareham TO LET Office 3287 27646 £23.00 18 Little Park Farm Road Fareham TO LET Office 1885 1885 £30,160.00 Leander House, 4600 Parkway, Solent Business Park Fareham TO LET Office 45311 45311 Unit D4 Segensworth Business Centre, Segensworth Road Fareham TO LET Industrial/Logistics, Office, Ware Industrialhouse, / Warehouse 4202 4202 £39,919.00 The Barn And The Dairy Tapnage Farm, Titchfield Lane Fareham TO LET Office 540 3133 £76,000.00 Unit 20-21 (13 - 15 Westbury Mall) Fareham Shopping Centre Fareham TO LET Retail 2250 4548 £100,000.00 Unit 87 (48 Thackeray Mall), Fareham Shopping Centre Fareham TO LET Leisure, Other, Retail 2481 2481 £57,500.00 Unit 48 (1-3 Thackeray Mall) Fareham Shopping Centre Fareham TO LET Leisure, Other, Retail 390 390 £17,500.00 Solent Gate, Speedfields Park, Newgate Lane Fareham OFFERUNDER Industrial / Warehouse 10063 20135 £9.25 Unit 23 Palmerston Business Park, Palmerston Drive Fareham OFFERUNDER Industrial / Warehouse 1895 1895 £20,845.00 Unit 3 Concorde Park, Segensworth Fareham OFFERUNDER Industrial / Warehouse 2947 2947 160b Southampton Road, Titchfield Fareham OFFERUNDER Industrial / Warehouse, Retail, Trade Counter / Showroom 11009 11009 £165,000.00 Unit 3 Quayside Commerce Centre, Lower Quay Fareham OFFERUNDER Office 676 676 £12,000.00 Unit 4 Market Quay Fareham OFFERUNDER Leisure, Retail 7371 7371 £75,000.00 listings...propertyCurrent
PAGE 21vailwilliams.com Address Town Tenure Property Type Size Sq Ft Range Sq Ft Rent AreaSite Price Unit 10 The Gardens, Broadcut Fareham OFFERUNDER Office 2099 2099 £350,000 40 The Green, Stubbington, Stubbington Fareham OFFERUNDER Investment 726 726 £220,000 Unit 3 Quayside Commerce Centre, Lower Quay Fareham OFFERUNDER Office 676 676 £130,000 136 High Street Gosport TO LET Retail 5967 5967 £65,000.00 39-41 George Street Hastings SALEFOR Land / New Build, Leisure, Residential 14039 14039 £500,000 Spring Business Park, New Lane Havant TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 4007 17000 £11.50 12A/B Solent Road Havant TO LET Retail, Trade Counter / Showroom, Warehouse 6770 6770 Furniss Way Hayling Island TO LET Development Land, Leisure Vanbrugh House, Botleigh Grange Business Park Hedge End TO LET Office 2662 8751 £24.00 Jellicoe House - Ground Floor Suite B, Botleigh Grange Office Campus Hedge End TO LET Office 2911 2911 Top Floor Burlington House Botleigh Grange, Grange Drive Hedge End TO LET Office 5200 10835 £260,000.00 Unit 310 Ampress Park, Ampress Lane Lymington TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 16833 16833 £143,000.00 Unit 740 Ampress Lane Lymington TO LET Office 2889 2889 £39,000.00 330 Ampress Park, Ampress Lane Lymington TO LET Industrial / Warehouse 7669 7669 £69,021.00 98 High Street Lymington OFFERUNDER Investment £950,000 Buckmore Park, Winchester Road Petersfield TO LET Industrial / Warehouse, Trade Counter / Showroom 1000 42000 Council Offices Penns Place Petersfield TO LET Office 43132 43132 £425,000.00 Drum Court The Spain Petersfield TO LET Office 11829 11829 £18.00 Carters Quay Poole TO LET Open Storage £75,000.00 1-2.47acres Connect Centre, Kingston Crescent Portsmouth SALEFOR Office, Development Land 66546 66546 The Teardrop, Port Way Portsmouth SALEFOR Development Land 100564 100564 Lakeside - North Harbour Portsmouth TO LET Office 1500 26042 Portsdown Technology ParkSouthwick Road Portsmouth TO LET Office 5361 5361 £20.00 Commercial Space, Brunel House, The Hard Portsmouth TO LET Leisure, Retail 5175 5175 Unit B Chaucer House, Isambard Brunel Road Portsmouth TO LET Office, Retail, Leisure, Healthcare 3272 3272 West Suite First Floor 4000 Lakeside, North Harbour Portsmouth TO LET Office 7908 7908 £189,795.00 Third Floor Building 2000 Lakeside, North Harbour Portsmouth TO LET Office 11301 11301 £271,225.00 Third Floor Suite 307 East Building 1000, Lakeside North Harbour Portsmouth TO LET Office 4825 4825 £115,800.00 Suite 1 Ground Floor 2000 Lakeside North Harbour Portsmouth TO LET Office 10407 10407 £239,350.00 Ground Floor Suite 004/005 1000 Lakeside, North Harbour Portsmouth TO LET Office 6673 6673 £124,000.00 Unit C2 Mountbatten Business Park, Jackson Close Portsmouth TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 5205 5205 Shore House - Ground Floor, Compass Road Portsmouth TO LET Office 4984 10334 £19.75 Voyager Park, Unit E5, Portfield Road Portsmouth TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 7081 7081 £11.00 Unit B5 Mountbatten Business Park, Jackson Close Portsmouth TO LET Industrial/Logistics, Industrial / Warehouse 4873 4873 Fairfield House, Kingston Crescent Portsmouth TO LET Office 1406 9632 £16.00 Railway Triangle, Walton Road Portsmouth TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 5380 10705 £10.50 Unit A7 Railway Triangle, Walton Road Portsmouth TO LET Industrial / Warehouse 5399 5399 20B The Boardwalk Port Solent Portsmouth TO LET Office 1561 1561 £22,635.00 Units 1 & 2, Units 8-10 The Boardwalk, Port Solent Portsmouth TO LET Office 1591 4276 £14.50 C6 Portfield Industrial Estate, Nevil Shute Road Portsmouth TO LET Industrial / Warehouse 4230 4230 £11.00 Unit A12 And A13 Railway Triangle, Walton Road Portsmouth TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 10705 10705 £10.50 Office Suites At Gunwharf Quays Portsmouth TO LET Office 699 2476 £24.00 Mountbatten Business Park, 3 Grove Road, Farlington Portsmouth TO LET Industrial / Warehouse, Trade Counter / Showroom 19522 19522 £115,000.00 373-375 Old Commercial Road - First Floor Portsmouth TO LET Office 1553 1553 £17,000.00 Voyager Park, Portfield Road Portsmouth TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 2444 13493 £11.00 9 Northarbour Road, Cosham Portsmouth TO LET Industrial / Warehouse 34018 34018 £6.75 Lakeside North Harbour, Western Road Portsmouth TO LET Office 1200 36000 Unit B Central Square Pavilion, Lakeside, North Harbour Portsmouth TO LET Retail 798 798 £15,266.00 Building 37 Broad Oak, Airport Service Road Portsmouth TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 7723 7723
PAGE 22 vailwilliams.com Address Town Tenure Property Type Size Sq Ft Range Sq Ft Rent AreaSite Price Port View, One Port Way, Port Solent Portsmouth TO LET Office, Serviced Office 200 2000 Unit D 226-238 Commercial Road Portsmouth TO LET Retail 3509 3509 £55,000.00 Unit 7 Portsmouth Retail Park, Binnacle Way Portsmouth TO LET Retail 2050 2050 £35,000.00 Lakeside North Harbour Campus - D&B And Other Opportunities, Western Road Portsmouth TO LET Development Land, Office, Other 25000 350000 Building 49 Broad Oak, Airport Service Road Portsmouth TO LET Office, Hi Tech / Lab 6970 21524 Hilsea Industrial Estate Limberline Road Portsmouth OFFERUNDER Industrial/Logistics, Office, Ware house, Industrial / Warehouse 4463 91216 15 St Georges Business Centre, St Georges Square Portsmouth OFFERUNDER Office 469 469 £12,750.00 Voyager Park, Unit E2, Portfield Road Portsmouth OFFERUNDER Industrial/Logistics, Warehouse, Industrial / Warehouse 13493 13493 £11.00 12 St Georges Business Centre, St Georges Square Portsmouth OFFERUNDER Office 646 646 £15,000.00 5 Interchange Park, Robinson Way Portsmouth OFFERUNDER Industrial/Logistics, Warehouse, Industrial / Warehouse 32443 32443 £10.50 Block B Port Way, Port Solent Portsmouth OFFERUNDER Office 8049 25812 £23.00 26 The Boardwalk, Port Solent Portsmouth OFFERUNDER Retail 942 942 £25,000.00 Commercial Unit - Catherine House, Stanhope Road Portsmouth OFFERUNDER Restaurant, Retail 2006 2006 £30,000.00 Unit A Chaucer House, Isambard Brunel Road Portsmouth OFFERUNDER Office, Retail, Leisure, Healthcare 4305 4305 The Roofing Centre, Moneyfield Lane, Off Copnor Road Portsmouth OFFERUNDER Investment 5711 5711 £950,000 20 Ordnance Court, Ackworth Road Portsmouth OFFERUNDER Industrial / Warehouse 5183 5183 £435,000 18 Ordnance Court, Ackworth Road Portsmouth OFFERUNDER Industrial/Logistics, Warehouse, Industrial / Warehouse 5441 5441 £410,000 Solent Butchers, Dundas Lane Portsmouth OFFERUNDER Investment 10581 10581 £1,685,000 Bay House, North Harbour Business Park, Compass Road Portsmouth OFFERUNDER Investment 11023 11023 £2,575,000 Fit-Out Project Management Consultancy, Reading Reading TO LET Industrial / Warehouse, Retail, Lei sure, Office, Investment 10000 1000000 Unit 5, The Quadrangle, Abbey Park Industrial Estate Romsey TO LET Hi Tech / Lab, Office, Industrial / Warehouse 822 6466 Site C, Sylcombe Farm, Petersfield Road Ropley SALEFOR Open Storage, Industrial / Warehouse 4305 8610 Sylcombe Farm, Petersfield Road Ropley OFFERUNDER Industrial / Warehouse 5173 5173 The Portway Centre, 1 Old Sarum Park Salisbury TO LET Office, Serviced Office 130 2000 £16.80 Unit 5 Sopwith Park, Concorde Way FarehamNorth,Segensworth TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 20285 20285 £168,000.00 First Avenue Southampton SALEFOR Industrial/Logistics, Warehouse, Industrial / Warehouse 33708 33708 7-9 Rumbridge Street, Totton Southampton SALEFOR Office 5189 5189 £625,000 Unit C Centurion Park, Bitterne Road West Southampton TO LET Industrial / Warehouse 11463 11463 Southampton Science Park, Chilworth Road Southampton TO LET Office 200 30000 Twenty3 Brunswick Place Southampton TO LET Office 12701 52345 £26.00 Anglo City House, 2-6 Shirley Road Southampton TO LET Office 1344 3258 £16.00 Compass House, 1-3 The Avenue Southampton TO LET Office 1055 1055 £20,000.00 First Floor Saxon House, Saxon Wharf, Lower York Street Southampton TO LET Office 1708 4903 £75,000.00 17 Compass Point, Ensign Way, Hamble Southampton TO LET Industrial / Warehouse 5154 5154 £61,848.00 16 Compass Point, Ensign Way, Hamble Southampton TO LET Hi Tech / Lab, Marine, Office, Industrial / Warehouse 6001 6001 £72,000.00 Brunel House 21 Brunswick Place Southampton TO LET Office 13357 13357 £14.00 Charlotte Place - Prestigious Office Suites Southampton TO LET Office 2500 7234 £21.00 Kenneth Dibben House, Southampton Science Park, Enterprise Road Southampton TO LET Office 1803 5569 £20.00 Compass House, 26 Compass Point Southampton TO LET Office 1900 1900 £12.00 Suite A Burlington House Botleigh Grange, Grange Drive Southampton TO LET Office 2033 2033 £42,695.00 One Dorset Street Southampton TO LET Office 2883 10562 £24.50 First Avenue Southampton TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 33708 33708 £240,000.00 Latimer House, 5-7 Cumberland Place Southampton TO LET Office 2267 2267 White Building, 1-4 Cumberland Place Southampton TO LET Office 1381 1554 £23.00 6th Floor Charlotte Place Southampton TO LET Office 766 766 £17,000.00 Southampton Science Park - Epsilon House, Chilworth Southampton TO LET Hi Tech / Lab, Office 188 1150 £19.00 listings...propertyCurrent
PAGE 23vailwilliams.com Address Town Tenure Property Type Size Sq Ft Range Sq Ft Rent AreaSite Price Benham 4, Benham Road, Southampton Science Park Southampton TO LET Office 1227 1227 £21.00 The Point, 69-81 Commercial Road Southampton TO LET Office 9395 67000 1 Guildhall Square Southampton TO LET Office 5700 5700 The Quay, 30 Channel Way Southampton TO LET Office 895 895 £22.50 281 Empress Road - First Floor Southampton TO LET Office 4277 4277 £14.00 14 Locks Heath Centre, Centre Way Southampton TO LET Retail 1165 1165 £31,000.00 Southampton Science ParkGamma House, Ground Floor East Southampton TO LET Office 3830 3830 £19.00 Southampton Science Park5 Benham Campus Southampton TO LET Hi Tech / Lab, Office 2163 2256 £23.00 Acorn Business Park, Empress Road Southampton TO LET Office, Industrial / Warehouse 280 431 3 Waterside Place Southampton TO LET Office 5173 10681 £23.00 Oculis House, Eddystone Road Southampton TO LET Office 50 1000 The Boathouse, Town Quay Southampton TO LET Office 3000 3000 Unit 7 Auckland Road, Millbrook Southampton TO LET Office 2484 2484 £40,000.00 5 Waterside Place, Town Quay Southampton TO LET Office 1250 4184 £21.50 Centenary Quay Phase 3, Woolston Southampton TO LET Retail 4000 30000 Southampton Science ParkBenham Campus Plot 1, Chilworth Southampton TO LET Hi Tech / Lab, Office 30600 30600 Engineering SouthamptonCentre,Science Park, Venture Road Southampton TO LET Office, Industrial / Warehouse 300 950 First Floor 33 Locks Heath Shopping Village Southampton TO LET Office 774 774 £12,500.00 Unit 16 Hedge End Business Centre Southampton OFFERUNDER Healthcare, Leisure, Office 496 496 £8,250.00 Crescent Place - 60 - 64 St Mary’s Road Southampton OFFERUNDER Leisure, Retail 637 637 Delta House, Southampton Science Park, Enterprise Road Southampton OFFERUNDER Office 2817 6853 £19.00 16 Carlton Crescent Southampton OFFERUNDER Office 2483 2483 £37,000.00 11 Compass Point Ensign Way, Hamble Southampton OFFERUNDER Office 1752 1752 £26,250.00 Phase 3, Bow Square, Bernard Street Southampton OFFERUNDER Retail 5918 5918 £15.00 1 The Broadway, Portswood Southampton OFFERUNDER Warehouse 9555 9555 £65,000.00 92-93 East Street Southampton OFFERUNDER Retail 2217 2217 £15.00 Handleys’ Corner, 44-46 Palmerston Road Southsea TO LET Retail, Leisure, Office, Healthcare 3173 24836 Knight & Lee THIS Workspace, Palmerston Road Southsea TO LET Office 500 13000 Beach Towers, 11 St Helens Parade Southsea OFFERUNDER Development Land acres0.19 £1,400,000 The Stennack Co-op St. Ives OFFERUNDER Investment 5201 5201 £900,000 Roman House, Salisbury Road Totton TO LET Office 4300 4300 £20.00 Unit 320 Proxima Park Waterlooville TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 42786 42786 Unit M4 Hazleton Interchange, Horndean Waterlooville TO LET Industrial / Warehouse 13130 13130 £11.00 Unit D Hazelton Interchange, Horndean Waterlooville TO LET Industrial / Warehouse 7065 7065 £11.00 Proxima Park - Phase 1, Houghton Avenue Waterlooville TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 8000 45000 Proxima Park - Phase 2, Proxima Park Waterlooville TO LET Industrial/Logistics, Warehouse, Industrial / Warehouse 20000 126500 Unit D Wellington Gate - Ground Floor Waterlooville TO LET Office 7500 7500 £80,000.00 Tileasy House, Waterberry Drive Waterlooville OFFERUNDER Industrial / Warehouse 34408 34408 £320,000.00 Unit B1 Hazleton Interchange, Horndean Waterlooville OFFERUNDER Industrial / Warehouse 2342 2342 £28,104.00 Open Storage New Road, Micheldever Winchester TO LET Open IndustrialStorage,/Warehouse £110,000.00 acres2.7 2nd Floor 2 Royal Court, Church Green Close Winchester TO LET Office 3000 6746 £21.00 Unit B Moorside Road, Winnall Winchester TO LET Industrial / Warehouse 15613 15613 £156,000.00 10 Jewry Street Winchester TO LET Office, Restaurant, Retail 2050 2050 £55,000.00 Cromwell House, Andover Road Winchester TO LET Office 1500 22879 £20.00 Newfrith House, 21 Hyde Street Winchester OFFERUNDER Office 1500 3014 £29.00 16 City Business Centre, Hyde Street Winchester OFFERUNDER Office 790 790 £15,800.00 Kings Worthy Court & House, Kings Worthy Court, London Road Winchester OFFERUNDER Development Land, Investment acres3.17
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