HEADLINES INSIDE THIS ISSUE
Grade A business space dwindling in supply
Racking up the deals across the Solent
Service charges in commercial property
Vail Williams wins big at SCPA
Along with our full property listings
Expert property advice delivering competitive advantage
HEADLINES
023 8023 2882 jll.co.uk/property
OFFICES TO LET FROM 2,992 UP TO 18,246 SQ FT
– – – – –
13 cycle and 18 car parking spaces 2 electric car charging points New shower and changing area Open plan flexible floorplate Communal break out facilities
Welcome to our latest edition of Headlines magazine. Since our last issue, we’ve had fantastic success in letting and selling our clients’ commercial properties, so much so that the office supply in our region is at an all-time low with rents growing. Nik Cox 07870 557 410 ncox@vailwilliams.com
www . onedorsetstreet . co . uk
# feelbetterworkbetter
Dear all,
Elsewhere, we are delighted to be acting on four new speculative industrial schemes; Logistics City, Whiteley, 5 Interchange Park, Portsmouth, Concorde Park, Segensworth and New Lane, Havant, providing buildings to let and for sale over the next year. We are regularly being asked to help our clients search and negotiate lease terms using our detailed local knowledge. Please contact one of the team to find out how we can help. Since our merger with Hughes Ellard a year ago, we have grown to become the largest Property Consultancy firm in the Solent Region with a dedicated Business Space agency team of nine operating from our Portsmouth and Southampton offices. We are proud to have been recently awarded the Property Consultancy of the Year at the Solent Property Awards 2019. We hope the articles from our various service lines will make interesting reading and please do not hesitate to contact us should you require any property advice. We have a complete listing of our office, industrial and retail units to let from page 27 onwards and we would be happy to answer any questions you have relating to these properties or better still, arrange a viewing. All our properties can be viewed on www.vailwilliams.com
4
Are millennials shaping and changing the way we work?
7
AVASK Accounting sails straight into Oceana House
8
Grade A business space dwindling in supply
12
The Great British Housing shortage
15
Understanding the best way to invest
18
Service charges in commercial property
22
Racking up the deals across the Solent
Russell Mogridge Emma Lockey 07825 357 481 emma.lockey@cbre.com
FIRST FLOOR OFFICE TO LET 4,494 SQ FT
– – – – –
New air conditioning Raised floors Suspended ceilings with LED lighting New shower facilities and WC’s 10 parking spaces
HEAD OF SOLENT BUSINESS SPACE TEAM
23
Vail Williams wins big at SCPA
27
Current Property Listings
To comment on this edition or to advertise with us please contact Talia Jones on tjones@vailwilliams.com or via 07785 535 933
Nik Cox 07870 557 410 ncox@vailwilliams.com
Savannah House 3 Ocean Way Ocean Village Southampton SO14 3TJ
watersideplace - southampton . co . uk vailwilliams.com
PAGE 3
contents
Nella Pang 07738 625 431 Nella.Pang@eu.jll.com
HEADLINES
PRODUCTION/ WAREHOUSE UNIT
ARE MILLENNIALS
to Let
SHAPING AND CHANGING THE WAY WE WORK? It’s no secret that the newest crop of people entering the workforce have been immersed in a much more technical world growing up compared to the likes of the Baby Boomers and Generation X’ers, but does that necessarily mean that millennials are completely overhauling how we should be working? Vail Williams takes a look into the impact of their arrival in the office at their annual Thought Leadership event. The UK’s population is living longer than ever before; research suggests that by 2031, the number of 65 year-olds and over will outnumber people under 20, meaning we will be in an era where there can be four, even five generations of workers in the same business due to changing demographics and higher retirement ages. Each generation of people bring their own unique skill set to the table and millennials are no different. Whilst they collectively share characteristics like a desire to ‘fix’ situations, have a social conscience and search for a work-life balance, they are statistically less likely to stay in the same company for the full length of their career. Six out of 10 millennials expect to move on from their employer within two years, with only 12% looking to stay beyond five years. Further research indicates that it costs on average up to £11,000 to replace employees, so their job-hopping tendencies could have financial implications for SMEs. The question is whether companies should be adapting how they work to keep hold of the future leaders of business?
2100 MIDPOINT 27, TALBOT ROAD, FAREHAM, HAMPSHIRE PO15 5RZ • • •
Large secure yard Allocated parking 2 storey office accommodation to front of warehouse
Location
aged 23 than a 60-year-old; It’s the societal demands that have changed. For instance, millennials are much more focused on social
The unit is Located on Talbot Road, just off Cartwright Drive, linking to Southampton Road for access to the M27 and Segensworth Industrial Estate.
and political issues affecting the world, such as poverty and climate
Description
change.
2100 Midpoint 27 comprises approximately 21,830 sq ft of production/warehouse space, constructed of part brickwork/blockwork and part clad elevations, under a pitched clad roof with roof lights.
Our Managing Partner, Matthew Samuel-Camps knows this better than most. “As someone who has two teenage children, issues about ethics and a high level of intolerance of discrimination and a
balancing their needs and aspirations compared with other generations, but the work drivers are no different for a person
“From an employer’s standpoint, we need to embrace the strengths of millennials. They are wired differently but, unless we understand what they have to offer, our businesses will not continue to strive and remain successful.”
PRODUCTION/ WAREHOUSE UNIT
The Solent Thought Leadership event held in April at the University of Southampton Science Park was attended by 120 business professionals and Matthew believes that the guest presentations
to Let
gave a holistic view of how companies need to remember all employees. “Our event provided revealing insights into millennials and how
2200 MIDPOINT 27, TALBOT ROAD, FAREHAM, HAMPSHIRE PO15 5RZ
those businesses which better understand and address their needs, without alienating older colleagues, will stay relevant and competitive.”
• • • •
The next generation are certainly starting to make their mark in the corporate world, but maybe changing a company’s strategy to integrate millennials into the workforce isn’t quite the right step to
Maybe businesses should focus on the similarities rather than despair at the differences…
The unit is Located on Talbot Road, just off Cartwright Drive, linking to Southampton Road for access to the M27 and Segensworth Industrial Estate. Description
RENT £372,309 per annum 49,830 sq.ft (4,629 sq.m)
Contact our Southampton office on 023 8082 0900 for more information.
CONTACT Alex Gauntlett on 07584 657826 or via email at agauntlett@vailwilliams.com
MATTHEW SAMUEL-CAMPS
vailwilliams.com
Large secure yard Allocated parking 2 storey office accommodation to front of warehouse Substantial power supply estimated at 2,000 KVA.
Location
We understand your property needs. Come and have a chat with us...
PAGE 4
CONTACT Alex Gauntlett on 07584 657826 or via email at agauntlett@vailwilliams.com
lack of environmental awareness are incredibly important to them.
take.
Yes, millennials are seen to be more demanding in terms of
RENT £148,234 per annum 21,830 sq.ft. (2,028 sq.m)
2200 Midpoint 27 comprises approximately 49,830 sq ft of production/warehouse space, constructed of part brickwork/blockwork and part clad elevations, under a pitched clad roof with roof lights.
HEADLINES
WHITELEY Planning consented B1(c), B2 & B8
Available Spring 2020
Indicative image: Logistic City Enfield
AVASK ACCOUNTING SAILS STRAIGHT INTO OCEANA HOUSE An international Accountancy and Business Consultancy firm has leased nearly 17,000 sq ft in what is the largest office letting in Southampton city centre since 2013.
LOGISTICS CITY l Whiteley Solent Way | Whiteley | Fareham | Hampshire | PO15 7FT
New warehouse and industrial units
8,665 – 58,664 sq ft (805 - 5,450 sq m) Oxford Oxford
logistics-city.co.uk
M40 M40
A420 A420
Enfield Enfield
A1A1
Location Location
A429 A429
Swindon Swindon
Accommodation
A34 A34
1515
M4 M4
1313
27,287
(approximately) (approximately)Ground floor TOTAL
A36 A36
20,419
1,897
2,293 A303 A303
213
Miles Miles
22,712
A354 A354
A25 A25
A22 A22
1010 Southampton Southampton
1414 M27 M27
Unit 2
A283 A283
Chichester Chichester
Brighton Brighton
0
00
42
0
Unit 1
Solent SolentWay Way || Whiteley Whiteley || Fareham Fareham || Hampshire Hampshire || PO15 PO157FT 7FT
Units 3 > Level loading doors (4m x 4.5m) > 7m minimum eaves height Kier KierProperty Propertyhas hasaanationwide nationwidereputation reputationfor for > First floor fitted offices developing developinghigh highquality qualityindustrial industrial and andwarehouse warehouse 2 > 37.5the KN/m floor loadingfrom space spacethroughout throughout the United United Kingdom, Kingdom, from > Electric loading: 90 KVA local localoccupiers occupiers totointernational international organisations, organisations, > 4 x electric vehicle charging points having havingdeveloped developedover over4.25m 4.25msq sqftftofofindustrial industrial > the Allocated parking property propertyover over the past pastten ten years. years.
Track TrackRecord Record
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Logistics LogisticsCity City Whiteley Whiteley
Eastbourne Eastbourne
ALEX ALEXGAUNTLETT GAUNTLETT
E:E: agauntlett@vailwilliams.com agauntlett@vailwilliams.com T:T: 0238 0238082 0820900 0900 M: M:07584 07584657826 657826
RUSSELL RUSSELLMOGRIDGE MOGRIDGE
E:E: rmogridge@vailwilliams.com rmogridge@vailwilliams.com T:T: 0239 0239220 2203200 3200 M: M:07815 07815737175 737175
l
t en
So
ay W
www.logistics-city.co.uk www.logistics-city.co.uk W Whit hi el te ey ley W Way ay
First floor fitted offices 500kg platform lift 37.5 KN/m2 floor loading Electrical loading The Theunits unitsare areavailable availableon onaaleasehold leaseholdbasis. basis. Unit 1: 150 KVA Unit 2: 180 KVA Further Furtherdetails, details,including includingquoting quotingterms termsare are > 8 x electric vehicle charging points available availableon onrequest. request.An Anestate estateservice servicecharge charge > Allocated parking will willbe beapplicable. applicable.
A27 A27
ayay WW lelyey tete hihi WW
ve ve eryAA ke kry ooo RR
The quoting rent is £22.50 per sq ft for the fully refurbished Grade A offices, with AVASK Accounting signing a 10-year lease on the first and fourth floors totalling 16,700 sq ft, together with a private roof terrace. Legal firm Womble Bond Dickinson, a long-standing anchor tenant, occupies the second and third floors, with two suites totalling 4,800 sq ft on the ground floor remaining available to let.
Led by directors Melanie V Shabangu and Dr Angelos Katsaris, AVASK is moving from its current premises at nearby 4 Carlton Crescent. They also have offices in Richmond, South-West London, Germany, France, Italy, Los Angeles in North America and Shenzhen, Xiamen and Hangzhou, China.
Will Elgeti, a Surveyor at the Solent offices of Vail Williams’ transactional team advised on the letting alongside Partner Russell Mogridge for the Landlord, Fidelity UK Real Estate Fund and Elgeti believes that companies on the rise will be on the lookout for similar properties in the near future. “The letting of two floors at Oceana House to AVASK is the largest office letting in the city centre for six years and is a tangible indication of the appetite by expanding companies for quality workspace. “Industry research shows that Southampton’s economy is forecast to rise by 1.7% this year and is set to outgun the
Ms Shabangu commented: “Oceana House provides us with the ideal location for our rapidly growing business, offering large light and airy open plan office spaces with car parking a stone’s throw from the railway station. We were delighted to have secured the offices in just six weeks from instructing our locally based solicitors, RM Legal”. Russell Mogridge, Partner and Head of the Solent Transactional team commented: “It’s testament to our client in reacting to market demand for high quality office space in the City Centre by investing in the building, creating an attractive office environment with a wonderful central atrium, manned reception, together with under cover cycle stores, showers and lockers. There’s no doubt the last remaining suites will let quickly.”
Logistics LogisticsCity Cityand andTrade TradeCity Cityare arepart partofof Kier KierProperty, Property,aaKier KierGroup Groupcompany company
The ground floor of Oceana House is currently on the market in one of the most desirable locations in the region, with 1,879 – 4,822 sq ft available.
M27 M27 J9 J9
M27 M27
This Thisbrochure brochureand andthe thedescriptions descriptionsand andmeasurements measurementscontained containedherein herein do donot notform formpart partofofaacontract contractand andwhilst whilstevery everyeffort efforthas hasbeen beenmade made totoensure ensureaccuracy, accuracy,this thiscannot cannotbe beguaranteed. guaranteed.April April2019. 2019.
Contact Will on 023 8082 0900 or via email welgeti@vailwilliams.com for more information WILL ELGETI
A2 A27 7
> > > >
A22 A22 A27 A27
A27 A27
00 51
Planning Planningconsent consentgranted grantedby byWinchester WinchesterCity City > Level loading doors (4m x 4.5m) Council CouncilininApril April2019 2019for forB1(c), B1(c),B2 B2and andB8 B8uses. uses. > 8m minimum eaves height Application Applicationreference: reference:18/02879/FUL. 18/02879/FUL.
Unit 3
A23 A23
A3(M) A3(M)
Portsmouth Portsmouth
26000
E:E: drawlings@lsh.co.uk drawlings@lsh.co.uk T:T: 023 0238071 80713077 3077 M: M:07702 07702809192 809192
A272 A272
A35 A35
Planning PlanningUnits 1 &2
A26 A26
A23 A23 A3A3
A35 A35
Specification
M23 M23
Crawley Crawley
0
A35 A35
DAN DANRAWLINGS RAWLINGS
Guildford Guildford
A3A3
00
A354 A354
A23 A23
A24 A24
M3 M3
Logistics LogisticsCity City Whiteley Whiteley
E:E: eevans@lsh.co.uk eevans@lsh.co.uk T:T: 01489 01489663532 663532 M: M:07703 07703393120 393120
A233 A233
A22 A22
A31 A31
45
A37 A37
ELISE ELISEEVANS EVANS
A3A3
Aldershot Aldershot
88
A36 A36
M27 M27
A2A2
A21 A21
Epsom Epsom
Winchester Winchester
A350 A350
Dartford Dartford
Bromley Bromley
99
Salisbury Salisbury
2,110
M3, M3,J14 J14 10 10miles miles 12 12mins mins Portsmouth PortsmouthUnit 3 11 11miles miles 15 15mins mins Ground floor13 6,684 25 621 Southampton Southampton 13miles miles 25mins mins First floor 39 1,981 40 184 Basingstoke Basingstoke 39miles miles 40mins mins M25, M25,J12 J12 TOTAL 65 65miles miles 60mins mins 8,665 60 805 Bournemouth Bournemouth Heathrow HeathrowAirport Airport 70 70miles miles 80 80Areas mins mins GEA
A35 A35
A34 A34
A36 A36
Drive Drivetime time
A303 A303
A303 A303
A303 A303
A2A2
West West Thurrock Thurrock
25500
First floor
A303 A303
A331 A331
M3 M3
Basingstoke Basingstoke 66
A23 A23
M25 M25
A13 A13
A20 A20
Croydon Croydon
1010
44
A34 A34
ar ar So uStohuCthircCuirlc u l
A3A3
1212 M3 M3
A339 A339
Andover Andover
Rookery Avenue A24 A24
A33 A33 A338 A338
Basildon Basildon
predicted UK average. Headline rents of £21 per sq ft for Grade A offices in the city centre are increasingly likely to become the norm against this backdrop and are still very affordable compared to most South East towns.”
Dagenham Dagenham
CENTRAL CENTRAL LONDON LONDON
M25 M25
1111
Newbury Newbury
2,535
Unit 2 Travel Traveldistances/times distances/times
Reading Reading
M4 M4
A127 A127
A12 A12
Viewing Viewingand andfurther furtherinformation information
A40 A40
1515
M4 M4
A346 A346
A350 A350
TOTAL
1616
Maidenhead Maidenhead
Brentwood Brentwood
Romford Romford
CirCircula r r NorNthorth cula
1717 The Thescheme schemeisissituated situatedwithin withinthe thenewest newest business businessdistrict districtofofSolent SolentBusiness Business Park and and SqPark ft Sq m Unit 1 wooded set setwithin withinthe the mature mature woodedenvironment environmentofof Fulcrum, Fulcrum,providing providing pleasant pleasantenvironment environment with with Groundaafloor 23,627 2,195 excellent excellentaccess access tothe theM27 M27at atJunction Junction 9. 340 Firstto floor 3,660 9.
Terms Terms
M11 M11
A10 A10
M40 M40
AVASK Accounting is moving into Oceana House at 39-49 Commercial Road, opposite Southampton Railway Station and the Mayflower Theatre, in a deal that has established and reinforced the need for premium office space in prime locations.
Indicative image: Logistic City Enfield
vailwilliams.com
PAGE 7
HEADLINES
INDUSTRIAL/ WAREHOUSE UNIT
to Let
GRADE A BUSINESS SPACE DWINDLING IN SUPPLY
UNIT D13, VOYAGER PARK, PORTFIELD ROAD, PORTSMOUTH, PO3 5FL • • • •
Location
High-quality offices in Southampton city centre are increasingly in short supply following strong demand from discerning companies. Vail Williams’ Solent Business Space specialist, Nik Cox investigates.
Another prime example of this is the recent letting at Oceana House, which became the largest city centre office deal since 2013. The 16,700 sq ft letting across two floors on Commercial Road, Southampton is quoting at £21 per sq ft, and it’s not the only location where space is dwindling. At Solent Business Park, Whiteley, three separate lettings, each at 17,500 sq ft, totalled 52,500 sq ft have helped push the take up figures.
Southampton is booming: from being one of the major ports in Europe to having two universities within a two-mile radius, Hampshire’s largest city is clearly a desirable location for many thriving businesses. But this comes at a price.
“Higher rents are being driven by a lack of supply of Grade A space available – in the city centre there is only about 100,000 sq ft available for companies looking to relocate to here, tapping into a skilled labour pool from the two universities and a growing tech cluster. “
According to research, there is only around 100,000 sq ft of Grade A offices available, with rents rising to reflect buoyant market conditions. Vail Williams has been involved in over 80% of office lettings and freehold sales over the past year, over 5,000 sq ft and within a 10-mile radius of the city centre. According to latest data, of the 17 transactions completed in the 12 months up to the end of May 2019, 14 have been overseen by Vail Williams either as sole agent or as joint agents. Nik explains how the property market is consistently evolving and how the need for office space is ever increasing. “Having been involved in the vast majority of deals in the past year, we are seeing significant demand for the city centre and the surrounding area including Solent Business Park.” “This is reflected in the highest rent to date at newly refurbished Beresford House, Town Quay, Southampton. The rent for new occupier Starling Bank, reportedly creating 150 jobs, is £22.50 per sq ft.”
Modern unit Established industrial estate Loading area 5 allocated car parking spaces
Voyager Park is located on Portfield Road and forms part of the established Airport Industrial Estate in Hilsea, North Portsmouth. The Park benefits from good access to the A27 trunk road at the Farlington Intersection, via Eastern Road (A2030).
for sale / to Let JUTLAND HOUSE, LION PARK, HAMBROOK, CHICHESTER, PO18 8FJ
“Solent Business Park and the business campus at Lakeside North Harbour, Portsmouth, are in strong demand. They, and other business parks along the Solent Corridor, are seeing record low availability. This means companies wanting to relocate now see Southampton city centre as the only viable relocation option, further squeezing local availability.”
• • • • • • •
Looking for advice on your next property? Look no further...
PAGE 8
RENT On application 485 – 1,065 sq.ft (45 - 99 sq.m) CONTACT Harnish Patel on 07825 276132 or via email at hpatel@vailwilliams.com
NIK COX
vailwilliams.com
CONTACT Harnish Patel on 07825 276132 or via email at hpatel@vailwilliams.com
GROUND FLOOR OFFICES / D1 USE
“The message to expanding companies on the search for larger premises, to meet the office environment expectations of discerning staff, is that you need to be looking ahead by at least two years. Top-notch offices are being snapped up - and a lack of development means supply will only tighten further, with rents on an upward trajectory.”
Contact our Southampton office on 023 8082 0900 or email Nik on ncox@vailwilliams for more information
RENT £10.00 per sq ft 2,444 sq.ft. (227.05 sq.m)
Current planning consent for A2/B1a/ D1 (health/medical) uses Suitable for alternative commercial uses – subject to planning Allocated car parking spaces Semi-rural location Good access to road infrastructure Adjacent to train station Can be split in to smaller suites
Location Hambrook is a small village location to the west of Chichester within easy access of the coast of Bosham, Emsworth, and Chidham.
Clear. Dependable. And fast, for when time is of the essence. Law. As it should be.
GROUND FLOOR FULLY FITTED OFFICE
to Let GROUND FLOOR SUITE B - JELLICOE HOUSE BOTLEIGH GRANGE OFFICE CAMPUS GRANGE ROAD HEDGE END SO30 2AF The office space comprises a ground floor office suite, accessed via its own generous foyer and providing open plan accommodation, fitted out with a kitchen/ staffroom, meeting rooms and board room, ready for immediate occupation. Location Jellicoe House is set within the wonderful grounds of the Botleigh Grange Office Campus. Conveniently located off Junction 7 of the M27, with Hedge End Village amenities and Hedge End Railway Station. Botleigh Grange is home to a Legacy Hotel Spa & Conference Centre and major occupiers include Imperial Cars Ltd, Clarke Wilmott, Trethowans Solicitors, HBOS, WYG Planning Consultants, Towergate Insurance and Curry & Brown.
• Gas fired central heating • Raised access floors • Suspended ceilings with recessed LED smart lighting • Comfort cooling system • WCs & shower • 13 allocated car spaces
RENT £60,575 per annum 2,423 sq ft (225.10 sq m)
CONTACT Will Elgeti on 07584 214668 or via email at welgeti@vailwilliams.com
HEADLINES
THE GREAT BRITISH HOUSING SHORTAGE: How the latest Planning Policy changes affect Councils Housing affects everyone, and with more and more young people deciding to buy instead of rent, the need for new builds is on the up. In the last year, the government has put in place a series of policy changes which are intended to meet their goal of delivering 300,000 homes per year.
THERE ARE THREE SIGNIFICANT CHANGES NOW IN PLACE TO INCREASE HOUSING NUMBERS:
1 The Housing Delivery Test 2 The Standard Method for calculating housing need 3 The requirement for a Local Plan Review every five years
The Housing Delivery Test: What is it? This was introduced in the 2018 version of the National Planning Policy Framework (NPPF). The aim is to place sanctions on local planning authorities who underperform in delivering their housing numbers over the last three years. Nationally, there has been a shortfall in the number of planning permissions versus the number of homes built, therefore the government introduced this measure to address this.
The most punitive measure applies to those who have delivered less than 25% of their housing target. This applies the NPPF’s presumption in favour of sustainable development which weakens an Authority’s ability to restrict speculative development on unallocated land. This threshold is set to change to 45% in November 2019 and 75% in November 2020, making it more likely that the test will be failed.
The results are produced annually, with the results for 2018 being published in February 2019. The Housing Delivery Test measures a local planning authority’s delivery of homes over the previous three years against their housing target.
This has affected a number of Councils in the Solent region: New Forest District, Isle of Wight, Bournemouth, Christchurch, North Dorset and East Dorset are required to add a 20% buffer to their housing land supply as a result of this test. No Local Planning Authorities are subject to the presumption in favour of sustainable development, however New Forest District Council only delivered 35% of its housing target, therefore it is unlikely that they will meet the 45% requirement in November 2019.
Authorities delivering under 95% of their housing requirement have to produce an action plan detailing the reasons why they are under-delivering.
Housing Need Standard Method The NPPF (2018) introduced a new standard method for calculating a Council’s housing need, with the 2019 revision making a number of clarifications. This is calculated using the 2014-based household projections with an adjustment based on affordability of housing in the Council area. This applies to Councils submitting a Local Plan for examination after January 2019. Generally in the South East, this has increased the housing need figure for many Local Councils. While this does not have an immediate effect on several Councils, it will have an impact on the ones currently reviewing their Local Plans and will therefore have to account for the new methodology. In the Solent Region, these include Portsmouth City Council, Fareham Borough Council, Havant Borough Council and Chichester Borough Council.
Five Year Local Plan Review One of the changes is the requirement for Local Planning Authorities to complete a Local Plan Review every five years from the date of adoption of their Local Plan. In order to enforce this, the NPPF (2019) has introduced a change which can increase a Council’s housing requirement if they do not meet this deadline.
mentioned earlier, has increased housing need figures compared to previous methodologies used. As a result, several Councils have seen an increase in their housing targets. Examples in the Solent Region with a plan over five years old include Fareham (2011), Portsmouth (2012), Havant (2011) and Bournemouth (2012). This has meant that some of these Councils (e.g. Portsmouth and Bournemouth) are no longer able to demonstrate a five-year housing land supply when they could previously. It is important to note that this will likely affect further Councils in the coming years, for example Southampton City Council will be affected by this change in 2020 when their plan (adopted in 2015) becomes five years old.
What happens next? Almost a year on from the NPPF (2018), we are starting to see the effects of the changes it has put in place. It is evident that the changes outlined above have resulted in higher housing targets for several Councils in the Solent Region. While some, such as the Housing Delivery Test, have had minimal short-term impacts, they are likely to lead to longer-term increases in housing numbers going forward. If you have any queries no how these changes affect you or your client’s development prospects, please do not hesitate to contact the Vail Williams Planning Team, who will be able to assist you with your query.
The NPPF (2019) states that Local Planning Authorities need to demonstrate a five-year supply of housing against their housing requirement as per their adopted policies. However, if these policies (in the Local Plan) are more than five years old, their five-year supply target is set at their full “local housing need figure”. This has a significant impact on many Local Planning Authorities who have haven’t updated their Local Plans in the last five years. Firstly, the “local housing need figure” is set by the new standard method for calculating housing need which, as
Those under 85% of their housing figure are required to add a 20% buffer (rather than the usual 5%) to their five-year housing land supply requirement, effectively increasing their housing requirement.
Going round in circles with your planning permission? Talk to our experts! Contact our Southampton office on 023 8082 0900 or email Jamie on jhanna@vailwilliams.com for more information. JAMIE HANNA
vailwilliams.com
PAGE 13
HEADLINES
OFFICE building
UNDERSTANDING THE BEST WAY TO INVEST
to Let
Commercial property investment can be tricky waters to negotiate, especially when issues such as Brexit could potentially slow down proceedings
DRUM COURT, THE SPAIN, PETERSFIELD GU32 3NG
Investment is generally based around owning or letting premises to tenants in return for income through the collection of rent – Regardless of the current political uncertainty, the fundamental of the UK commercial property market will continue to make it an attractive place to invest.
The property comprises an L-shaped, three storey office building with car parking to the rear, constructed approximately 1996 and refurbished in 2012. 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.
Commercial property as an asset class has always been considered a relatively stable income return from rental and potential capital growth over the long term. The UK benefits from generally longer lease terms compared with Europe and the US, averaging terms of approximately eight years. Having this lease structure offers significantly more security relative to returns compared with shares. Income will be guaranteed at a set level for a protracted period of time, this makes commercial property investment attractive in our
Location
Capitalisation on Market Trends The past 12 months has seen the industrial sector become increasingly popular being driven by strong occupational demand, solid income streams, shortage of available stock and limitations on new developments. As a result, we have seen downward pressure on industrial yields and a significant increase in competition. A number of our clients have been capitalising on this market trend and we expect this to keep rising in the coming months. Vail Williams has experts across a diverse range of sectors and disciplines to guide you through the full lifecycle of your property.
KEY INDUSTRIAL DEALS ACQUISITION - Unit 4 Fulcrum 1 Solent Way Whiteley Fareham PO15 7FE
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 5 minute walk north with direct links to London.
current low return environment.
We’ve highlighted a few ways where selling your investment would be the best option and why.
Term: tenant recently signed a reversionary lease from February 2020 for a term of 10 years with no breaks
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.
Re-letting of a commercial property
Price: £1,070,000
Re-letting of a commercial property could be the best time to sell your investment and make a return from increased value. With UK lease terms averaging eight years, the value of your property
Net initial yield: 5.5%
RENT On application
Town Centre Location
Total: 11,829 sq.ft (1099 sq.m)
Open plan offices Self Contained
CONTACT
Parking
Harnish Patel on 07825 276132 or via email at hpatel@vailwilliams.com
investment will increase significantly if let for this term length.
Conclusion of a Rent Review Conducting a rent review is also a good time to sell an investment, by increasing the rental income the value of the property will increase. Reflecting yield profiles if the property is purchased at 7% return at a rent of £40,000, the rent review surveyor concludes the rent review at an increase to £45,000 the return will be running at close to 8%, selling the property at 7% would provide a value
DISPOSAL – Units 5 & 6 Kingfisher Park, Headlands Business Park, BH24 3NX Multi let industrial properties producing a rental income of £146,250. Price: £2,142,500 Net initial yield: 6.42%
increase of 12%.
Want to understand more about how our investment team can help? Contact our Southampton office on 023 8082 0900 or email Marcus on mchuter@vailwilliams.com for more information. MARCUS CHUTER
vailwilliams.com
PAGE 15
HEADLINES
The SOLENT Team
Brand New Industrial Headquarters TO LET
HEADLINES
SERVICE CHARGES IN COMMERCIAL PROPERTY the Drive for Best Practice The Royal Institution of Chartered Surveyors’ (RICS’) new Service Charge Professional Statement is now effective and its provisions impact upon landlords and tenants of commercial property. The aim of the Statement is to improve general standards and promote best practice in the management and administration of service charges in commercial property and thereby reduce the causes of disputes. Aside from helping to maintain the landlord/tenant relationship, the principles of transparency, communication, timeliness and fairness can also improve the appeal of multi-let commercial property. A Service Charge Code for landlords and their managing agents is not new – the first guidance was published by the RICS back in 1996. However, this latest version takes the form of a professional statement and hence introduces elements of mandatory compliance for RICS members and other regulated firms. Its provisions include service charge apportionment matrices, budgets and certificates, reserve and sinking funds, independent reviews/audits and dispute resolution all of which need to be considered in conjunction with the lease provisions. If you would like to discuss our Property Asset Management services or to understand more about landlord obligations under the RICS Service Charge Professional Statement, please contact our Property Asset Management team.
5 INTERCHANGE PARK ROBINSON WAY I PORTSMOUTH I PO3 5QD
32,342 sq ft
(3,004.7 sq m)
Key mandatory principles now applicable: 1. All expenditure sought to be recovered must be in accordance with the terms of the lease 2. Owners/Managers must seek to recover no more than 100% of the actual costs 3. Service charge budgets and explanations are to be issued annually to all tenants 4. Approved service charge accounts showing a true and accurate record of actual service charge expenditure are to be provided annually to all tenants 5. A service charge apportionment matrix is to be provided annually to all tenants
Indicative CGI
Under Construction. Completion due January 2020 For further information or to view contact:
6. Service charge monies must be held in one or more discrete or virtual bank accounts
Prominent location HQ Standalone HQ unit
7.
Interest earned on service charge accounts must be credited to the service charge account after appropriate deductions have been made
Established industrial estate
8.
Where acting on behalf of a tenant, practitioners must advise clients that if a dispute exists, any payment withheld by the tenant should only reflect the actual sums in dispute
9.
When acting on behalf of a landlord, practitioners must advise clients that following resolution of a dispute, any service charge raised incorrectly should be adjusted to reflect the error without undue delay
M27 - 1 mile
023 9220 3200
vailwilliams.com
• B1(c), B2 and B8 uses • 4 clear opening sectional high lift doors • Clear height to underside of haunch 8m
Russell Mogridge M: 07815 737175 rmogridge@vailwilliams.com Harnish Patel M: 07825 276132 hpatel@vailwilliams.com
• Comfort cooled first floor offices • 67 car parking spaces • BREEAM rating target - Excellent
A lot has changed for landlords in the last statement. Want some advice? Contact our Southampton office on 023 8082 0900 or email Tim on tpoynting@vailwilliams.com for more information.
Jonathan Manhire M: 07928 525964 jonathan.manhire@eu.jll.com Luke Mort M: 07936 333614 luke.mort@eu.jll.com
TIM POYNTING
PAGE 18
A development by:
vailwilliams.com
GROUND FLOOR OFFICE SUITE
DETACHED OFFICE
to Let
to Let
2 ACORN BUSINESS CENTRE, NORTHARBOUR ROAD, PORTSMOUTH PO6 3TH
GROUND FLOOR, DELME PLACE, CAMS HALL ESTATE, FAREHAM PO16 8UX
Unit 2 comprises a detached office building providing accommodation over two floors. Internally, the unit is carpeted throughout. There are toilets on each floor. Unit 2 also benefits from gas central heating, comfort cooling and double glazed windows. The space includes a fitted kitchen and dining area.
Delme Place was constructed in the late 1990s. It comprises a modern twostorey building. Designed around three wings, Delme 1, 2 and 3, the property has its own dedicated car parking. The ground floor office suite is available to let benefitting from the following amenities: Comfort cooling
Location Acorn Business Centre, Northarbour, is an office complex situated in an accessible location in close proximity to Junction 12 of the M27 opposite IBM’s UK Headquarters at Lakeside, North Harbour. Built in the late 1980s, the scheme is situated on the outskirts of Portsmouth in one of the City’s primary office locations. With excellent transport links along the Solent corridor and easy access to London, the Acorn Business Centre represents a very attractive proposition for a wide range of businesses, including Taylor Cocks Accountants and Nviro.
Open plan office area Full access raised floors 15 Car spaces
Location
RENT Comfort cooling
£83,350 per annum
Open plan office area
2288 to 4628 sq.ft (212 to 429.94 sq.m) Net Internal Area
Full access raised floors 15 Car spaces
CONTACT Russell Mogridge on 07815 737175 or via email at rmogridge@vailwilliams.com
Delme Place is situated on the 220 acre Cams Estate, an established and successful business park. Set in a beautiful award winning landscaped Conservation Area, within the immaculate grounds of the 17th Century and Grade 2 Listed Cams Hall. Occupiers include Wilkins Kennedy Accountants and Glanvilles Solicitors. The campus benefits from stunning surrounds including the adjoining 27 hole golf complex and outstanding views to Portsmouth Harbour. On site facilities include the Buffet Car cafeteria and Cams Mill restaurant.
RENT £60,150 per annum 2,871 sq ft (266.73 sq m) Net Internal Area
CONTACT Russell Mogridge on 07815 737175 or via email at rmogridge@vailwilliams.com
HEADLINES
RACKING UP THE DEALS
WINS BIG
AT SOUTH COAST PROPERTY AWARDS
ACROSS THE SOLENT
Our Vail Williams Transaction Team has been incredibly busy over the last eight months, clocking more than 65 finalised deals across the Solent region for a diverse range of clients and sectors.
ON
ITI
IS
• Retail • 47,253 sq ft
• Eastleigh Borough Council
LD SO
BROADCUT RETAIL PARK, FAREHAM April 2019
N
O ITI IS
QU
PROXIMA PARK, WATERLOOVILLE March 2019
QU
• Starling Bank
CHESTNUT AVENUE RETAIL PARK, EASTLEIGH December 2018
AC
G
IN
• Office • 10,000 sq ft
AC
G IN
TT
LE
OCEANA HOUSE, SOUTHAMPTON April 2019
BERESFORD HOUSE, TOWN QUAY, SOUTHAMPTON May 2019
TT
Forest Classic Cars, GodFirst Church
Here are just a few of the key deals that have gone through recently. If you are looking for advice on your next property, get in contact with us today at vwinfo@vailwilliams.com
LE
LD
• Industrial • 81,831 sq ft • BizSpace, New
SO
AIRFIELD ROAD, CHRISTCHURCH March 2019
The 12-strong team across the Southampton and Portsmouth offices have completed over 650,000 sq ft worth of transactions in four different counties, covering acquisitions, disposals, lettings, sales, investments and more during this time.
The Solent Vail Williams team picked up four awards at one of the leading industry events on the South Coast. Held at The Hilton at Ageas Bowl near Southampton on 18th July 2019, the South Coast Property Awards attracted 59 finalists in 13 categories, with 400 property professionals attending. Shortlisted for no less than six categories across the evening, it was always going to be an eventful night going up against some incredibly tough opposition in the property sector. Additionally, Gary Jeffries, Vail Williams’ Regional Managing Partner, and Chairman of Solent LEP, was awarded the Outstanding Achievement award for his services across the sector.
“The awards are also the culmination of an ambitious three-year plan which has seen us increase revenues by 17% in the past year alone, and 28% over the three years, with revenues of £16.3m for 2018-19, backed by three acquisitions and a merger, several senior appointments, promotions and a series of client wins and other awards.”
His citation read: “This award is for a stand-out person who has promoted and created success in the execution of property strategy across the region and, more importantly, has been involved with the promotion of the region as a great place in which to do business.”
He added: “We join the wider business community in being incredibly proud of Gary receiving the Outstanding Achievement accolade. Gary is a dedicated champion of economic development, working to secure a more prosperous and sustainable future for the Solent region, which is home to 50,000 businesses.”
Top honours were also awarded to the Vail Williams team for the following categories: • Office • 16,700 sq ft
• AVASK Accounting
• Retail • 20,150 sq ft
• Coopers Fire
• Fareham Borough Council
LD
SO
ALEXANDRA WHARF, OCEAN VILLAGE, SOUTHAMPTON December 2018
N
O ITI
IS QU
G
IN
TT
PERCIVAL AVIATION, SEGENSWORTH January 2019
AC
LE
LAKESIDE, PORTSMOUTH July 2019
• Industrial • 45,000 sq ft
• Office • 28,000 sq ft
PAGE 22
• Checkatrade
• Industrial • 40,000 sq ft
• Percival Aviation
• Retail • 7,000 sq ft
• Nicholas James Group
vailwilliams.com
OFFICE CONSULTANCY OF THE YEAR BASED ON NUMBER OF DEALS AND SQ FT PROPERTY CLIENT SERVICE WORKING ALONGSIDE NORTHWOOD INVESTORS BUSINESS PARK INNOVATION OF THE YEAR LAKESIDE NORTH HARBOUR Matthew Samuel-Camps, Vail Williams’ Managing Partner, said afterwards: “These prestigious awards are testament to the expertise, professionalism, hard work and drive of staff at Vail Williams, providing clients with peace of mind that they have the best by their side.
vailwilliams.com
of
to
Furthermore, Vail Williams was also shortlisted for Industrial/ Logistics Consultancy of the Year, Workplace Environment (One Dorset Street, Southampton) and Property Deal of the Year (Oceana House, Commercial Road, Southampton). We thank all of our clients for their unwavering trust in what we do – these awards are a testament to you.
PAGE 23
GRADE II LISTED OFFICE PREMISES
FULLY FITTED OFFICE SPACE
4 CARLTON CRESCENT, SOUTHAMPTON, HAMPSHIRE SO15 2EY
FIRST FLOOR, ST GEORGES CHAMBERS, ST GEORGES STREET, WINCHESTER, HAMPSHIRE SO23 8AJ
to Let
to Let
The property comprises a link detached two storey office building with accommodation split into suites and meeting rooms over ground, first and second floors. The premises benefit from an extensive and modern specification having been refurbished in October 2018.
This impressive 4 storey property is a landmark building in the heart of the city, built on the site for the former George hotel. The ground and first floor have been occupied by Barclays Bank since completion in 1959. The remaining space at first, second and third floor level has more recently been converted to Grade A offices with occupiers including the Hampshire Police Commissioner and Active Navigation.
Location The office is located in Southampton, a major regional hub for commercial activity and busy shipping port, approximately 20 miles west of Portsmouth and 80 miles south west of London. The city benefits from excellent transport communications via Southampton train station, Southampton airport and the M3 motorway, providing access to the wider motorway network.
Location St Georges Chambers is located in the heart of the affluent Cathedral city of Winchester, with excellent road and rail communications via Winchester Train Station and the M3 motorway. Winchester is a vibrant commercial hub for the region. In addition to the Hampshire County Council headquarters and the Crown Court, business occupiers with headquarters in Winchester include Rathbones Investment Management, Denplan and Arqiva.
The property occupies a prominent position along Carlton Crescent, a short distance from London Road, a busy bar, restaurant and café quarter in the city. Local occupiers include Stillwells Solicitors, Lester Aldridge and London Road Brew House.
Recently refurbished Air conditioning
RENT £55,000 per annum 2,976 sq.ft (276 sq.m) Net Internal Area
RENT £34,080 per annum 1,388 sq.ft (129 sq.m) Net Internal Area
Fully Fitted Office Suite
Fibre to the premises Parking
The building is positioned at the intersection of Jewry Street and the prime retail high street, with the ground and part first floor occupied by Barclays Bank.
CONTACT Will Elgeti on 07584 214668 or via email at welgeti@vailwilliams.com
Air conditioning Flexible term available Kitchen facilities
CONTACT Will Elgeti on 07584 214668 or via email at welgeti@vailwilliams.com
current property listings...
DETACHED OFFICE BUILDING
HOUNSDOWN HOUSE, HOUNSDOWN BUSINESS PARK, SOUTHAMPTON, SO40 9LX Hounsdown House consists of a modern, detached, 2-storey purpose-built office building split into two wings per floor with ample provision of approximately 79 car parking spaces. Location Hounsdown House occupies a prominent position at the entrance to the well-established Hounsdown Business Park. The park is conveniently located approximately 5.5 miles west of Southampton Centre and on the edge of the New Forest National Park. The building is visible from the main estate road as well as the A326 and only 4.8 miles south of junction 2 of the M27.
Detached Office Building Comfort Cooling and heating Large Kitchen/Breakout Area Parking ratio of 1:182 sq ft
RENT £17.50 per sq ft 14,411 sq ft (1,338.82 sq m) Including a Reception at 201 sq ft
CONTACT Will Elgeti on 07584 214668 or via email at welgeti@vailwilliams.com
TOWN
TENURE
SECTOR
SIZE (SQ FT)
RANGE (SQ FT)
Ground Floor Offices, Jutland House
Chichester
To Let/For Sale
Office
485
1065
The Courtyard, Vinnetrow Business Centre
Chichester
To Let
Office
1543
9989
POA
Sussex House
Chichester
To Let
Office
1587
2126
£20.00
Suite 5 Crescent House
Eastleigh
To Let
Office
2023
2023
£14.00
17 East Links
Eastleigh
To Let/For Sale
Office
2985
2985
Forum 3, Solent Business Park
Fareham
To Let
Office
3287
27646
£21.00
West Farm House
Fareham
Let
Office
3323
3323
£189.59
Wentworth House
Fareham
Sold
Office
6892
6892
Forum 5
Fareham
To Let
Office
3917
3917
£21.00
7 Victory Park, Solent Business Park
Fareham
Under Offer
Office
1528
3223
£17.49
Prism, 1650 Parkway
Fareham
To Let
Office
3330
7996
£15.50
Forum, Solent Business Park
Fareham
To Let
Office
3917
21155
£21.00
The Granary - Cams Hall Estate
Fareham
To Let
Office
3344
3344
£20.04
Suites 1 And 2 Faretec
Fareham
To Let
Office
1852
1852
£17.00
Fusion, Solent Business Park
Fareham
To Let
Office
9634
14579
£18.75
14 Brunel Way
Fareham
To Let
Office
1432
2965
£10.00
First Floor, 30-32 West Street
Fareham
To Let
Office
770
770
POA
Ground Floor, Delme Place
Fareham
To Let
Office
2871
2871.004
£20.95
Main Barn
Fareham
To Let
Office
3431
3431
£19.82
3600 Solent Centre
Fareham
To Let
Office
1007
2033
£17.50
Suite 3 Faretec
Fareham
To Let
Office
785
785
£17.00
Second Floor Suite C, 3700 Solent Centre
Fareham
To Let
Office
2735
2735
£13.00
Unit 14 Victory Park
Fareham
To Let
Office
1349
1349
£14.83
Pineberry, 1570 Parkway
Fareham
Under Offer
Office
2437
5091
£15.00
Leroux House - Cams Hall Estate
Fareham
Under Offer
Office
6209
6209
£19.00
Jellicoe House - Ground Floor Suite B
Hedge End
To Let
Office
2423
2423
£25.00
42 Botley Road
Hedge End
To Let
Office
2400
2400
POA
Liss Mill
Liss
Sold
Office
4221
4221
Drum Court - The Spain
Petersfield
To Let
Office
11829
11829
POA
MSU5 Meridian Centre
Havant
To Let
Office, Retail
3279
3279
POA
5A Edinburgh Road
Portsmouth
To Let
Office, Retail
8095
8095
POA
2 St Georges Business Centre
Portsmouth
To Let
Office
1234
1234
£19.45
Fairfield House
Portsmouth
To Let
Office
1112
10672
£16.00
Shore House - Ground Floor
Portsmouth
To Let
Office
10086
10086
£16.00
7 St Georges Business Centre
Portsmouth
Let
Office
800
800
vailwilliams.com
RENT (SQ FT)
PRICE
POA
POA
£720,000
£260,000
£941,835
PAGE 27
office
to Let/ MAY sELL
PROPERTY
PROPERTY
TOWN
TENURE
SECTOR
SIZE (SQ FT)
RANGE (SQ FT)
RENT (SQ FT)
First Floor 33 Locks Heath Shopping Village
Southampton
To Let
Office
774
774
£16.15
Compass House, Hamble-le-Rice
Southampton
To Let
Office
906
2806
£12.00
16 Carlton Crescent
Southampton
To Let
Office
2483
2483
£14.90
4 Carlton Crescent
Southampton
To Let
Office
2976
2976
£18.48
Southampton Science Park Gamma House
Southampton
To Let
Office
3830
3830
£18.50
Cromwell House
Winchester
To Let
Office
1500
22879
Chilcomb Park - South Building
Winchester
To Let
Office
7063
First Floor St Georges Business Centre
Winchester
To Let
Office
Compass House
Southampton
To Let
281 Empress Road - First Floor
Southampton
Charlotte Place - 3 Prestigious Offices Suites
PROPERTY
TOWN
TENURE
SECTOR
SIZE (SQ FT)
RANGE (SQ FT)
RENT (SQ FT)
Roebuck House
Southampton
To Let
Office, Retail
170
2378
POA
Unit B Chaucer House
Portsmouth
To Let
Office, Retail
3272
3272
POA
Office Suites At Boyd, Gunwharf Quays
Portsmouth
To Let
Office
699
1637
£24.00
12 St Georges Business Centre
Portsmouth
To Let
Office
646
646
£23.22
3-6 The Quarterdeck
Portsmouth
To Let
Office
2815
2815
£15.00
Pendower House
Portsmouth
For Sale
Office
2568
2568
£20.00
Southampton Science Park - Epsilon House
Southampton
To Let
Hi Tech / Lab, Office
495
1173
POA
20943
£25.00
Unit 7 Hedge End Business Centre
Southampton
To Let
Office
886
886
£16.08
1388
1388
£24.55
Ground Floor, The Quay
Southampton
To Let
Office
4299
4299
£21.00
Office
1055
1055
Town Quay
Southampton
To Let
Office
2883
5957
£21.00
To Let
Office
4277
4277
£14.00
136 High Street
Gosport
To Let
Retail
5967
5967
£10.39
Southampton
To Let
Office
5258
11723
£18.50
5 West Street
Havant
To Let
Retail
793
793
£33.42
One Dorset Street
Southampton
To Let
Office
3000
14715
£24.50
SU27 - SU29 Meridian Centre
Havant
To Let
Retail
5795
5795
POA
Grosvenor House
Southampton
To Let
Office
3466
12237
£21.00
Units 9/11 Meridian Centre
Havant
To Let
Retail
4205
4205
£15.46
Oceana House
Southampton
To Let
Office
1879
4822
£22.50
12-14 Pier Street
Lee-On-The-Solent
For Sale
Investment, Retail
752
752
Waterside Place
Southampton
To Let
Office
3000
4494
£21.00
83 West Street (Unit 31)
Fareham
To Let
Retail
1080
1080
£35.65
3 Ariadne House
Southampton
To Let
Office
2883
5957
£21.00
213-215 Commercial Road
Portsmouth
To Let
Retail
2725
2725
£16.51
1 Ariadne House
Southampton
To Let
Office
3074
5957
£20.00
26 The Boardwalk
Portsmouth
To Let
Retail
942
942
£26.54
Tagus House
Southampton
To Let
Office
1890
4464
£19.50
16 Arundel Street
Portsmouth
To Let
Retail
880
880
£22.73
2nd Floor 2 Royal Court
Winchester
Under Offer
Office
3000
6746
£21.00
12 Fryern Arcade
Eastleigh
To Let
Retail
1081
1081
£14.80
Roman House, Salisbury Road
Totton
To Let
Office
4300
4300
£20.00
Unit 4 Market Quay
Fareham
To Let
Leisure, Retail
7371
7371
£10.18
Unit D Wellington Gate - Ground Floor
Waterlooville
To Let
Office
7500
7500
£10.67
Unit 87 (48 Thackeray Mall), Fareham Shopping Centre
Fareham
To Let
Leisure, Other, Retail
2481
2481
£23.18
Southampton Science Park - Benham Campus Plot 1
Southampton
For Sale
Hi Tech / Lab, Office
30600
30600
Unit 1 Enterprise House - Isambard Brunel Road
Portsmouth
To Let
Leisure, Office, Retail
1116
1116
£15.01
Southampton Science Park - 5 Benham Campus
Southampton
To Let
2260
3340
£25.00
Unit 3 Southdown View
Portsmouth
For Sale
Office, Other, Retail
3012
3012
POA
25 The Slipway
Portsmouth
To Let
Office
718
718
£18.80
RU27 Centenary Quay
Southampton
To Let
Restaurant, Retail
1659
1659
£21.10
Willis House
Portsmouth
To Let
Office
676
2334
POA
Phase 3, Bow Square
Southampton
To Let
Retail
5918
5918
£15.00
34 Jewry Street
Winchester
To Let
Retail
675
675
£32.59
Unit 3 Southdown View
Portsmouth
To Let
Office, Other, Retail
3012
3012
RU27 Centenary Quay
Southampton
For Sale
Restaurant, Retail
1659
1659
2 Acorn Business Centre
Portsmouth
To Let
Office
2288
4628
£18.01
60-64 St Mary’s Road
Southampton
To Let
Leisure, Retail
636
1273
£14.00
Portsdown Technology Park Southwick Road
Portsmouth
To Let
Hi Tech / Lab, Office
586
19186
POA
Brunswick Gate - First Floor
Southampton
To Let
Office
6069
12138
£21.00
Lakeside North Harbour
Portsmouth
To Let
Office
2000
10500
£22.50
136 High Street
Gosport
To Let
Retail
5967
5967
£10.39
373-375 Old Commercial Road - First Floor
Portsmouth
To Let
Office
1553
1553
£12.88
5 West Street
Havant
To Let
Retail
793
793
£33.42
SU27 - SU29 Meridian Centre
Havant
To Let
Retail
5795
5795
POA
Building 1000 Lakeside North Harbour
Portsmouth
To Let
Office
2000
2000
£22.50
Units 9/11 Meridian Centre
Havant
To Let
Retail
4205
4205
£15.46
Building 2000 Lakeside North Harbour
Portsmouth
To Let
Office
10500
10500
£22.50
83 West Street (Unit 31)
Fareham
To Let
Retail
1080
1080
£35.65
Unit 2 Interchange Park - Office Space
Portsmouth
To Let
Office
5207
5207
£10.00
160b Southampton Road
Fareham
To Let
11009
11009
£14.99
Buckmore Park
Petersfield
To Let
Office
1000
9000
POA
POA
vailwilliams.com
vailwilliams.com
PRICE
£420,000
£275,000
£365,000
PAGE 29
retail
PAGE 28
Hi Tech / Lab, Office
PRICE
office
office
current property listings...
industrial / warehouse
current property listings... TOWN
TENURE
SECTOR
SIZE (SQ FT)
RANGE (SQ FT)
RENT (SQ FT)
6 & 7 Fairway Business Centre - Airport Service Road
Portsmouth
To Let
Industrial/Warehouse
2800
2800
£7.86
Voyager Park, Unit D13
Portsmouth
To Let
Industrial/Warehouse
2444
2444
£10.00
Unit 11 Mitchell Way
Portsmouth
To Let
Industrial/Warehouse
4947
4947
£9.00
Unit 5 Mitchell Way
Portsmouth
To Let
Industrial/Warehouse
4947
4947
£9.00
Unit A5 Railway Triangle
Portsmouth
To Let
Industrial/Warehouse
5380
5380
£10.00
20 Fitzherbert Road
Portsmouth
To Let
Industrial/Warehouse
16468
16468
£5.16
Unit E1 Voyager Park
Portsmouth
Let
Industrial/Warehouse
13576
13576
£9.25
5 Interchange Park
Portsmouth
To Let
Industrial/Warehouse
32342
32342
£10.50
Monaco House, Painter Close
Portsmouth
To Let
Industrial/Warehouse
10044
10044
£5.33
Unit 8 Dundas Close
Portsmouth
To Let
Industrial/Warehouse
7322
7322
Portsmouth
To Let
Industrial/Warehouse, Trade Counter/Showroom
19522
19522
6 & 7 Fairway Business Centre - Airport Service Road
Portsmouth
For Sale
Industrial/Warehouse
2800
2800
7 Hedge End Trade Park
Southampton
To Let
Industrial/Warehouse, Trade Counter/Showroom
3500
7027
£17.50
36 Brunel Way
Fareham
For Sale
Industrial/Warehouse
74891
74891
£5.00
Unit 130 Ordnance Business Park
Gosport
To Let
Industrial/Warehouse
2334
2334
£8.57
Unit 1000 Fareham Reach Business Park
Gosport
To Let
Industrial/Warehouse
15000
73190
240 Ordnance Business Park
Gosport
To Let
Industrial/Warehouse
2185
2185
Endeavour Quay
Gosport
To Let
Industrial/Warehouse
694
3207
Unit IN6 Invincible, Daedalus Park
Lee-On-TheSolent
To Let
Industrial/Warehouse
1076
1076
£11.15
Unit 4 Mitchell Way
Portsmouth
To Let
Industrial/Warehouse
4588
4588
£9.00
Petersfield Road is situated off the A31 leading through to Alton and Winchester.
Units 30, 31 & 32 Parham D
Eastleigh
To Let
Industrial/Warehouse
3859
11492
Unit 7 Phoenix Park
Eastleigh
To Let
Industrial/Warehouse
1540
1540
£11.04
Unit 23 Parham Drive
Eastleigh
To Let
Industrial/Warehouse
4324
4324
£12.72
Ropley is situated approximately 10 miles south of Alton and approximately 15 miles east of Winchester.
31a North Street
Emsworth
To Let
Industrial/Warehouse
6053
6053
Logistics City Whiteley, Fulcrum 6, Solent Business Park
Fareham
To Let
Industrial/Warehouse
8665
58664
£10.50
Sapphire House
Fareham
Under Offer
Industrial/Warehouse
23555
23555
£7.50
Unit 31 Fareham Industrial Park
Fareham
To Let
Industrial/Warehouse
5345
5345
£8.51
Unit 1 Station Approach
Fareham
To Let
Industrial/Warehouse
3985
3985
32-34 Fareham Industrial Park
Fareham
To Let
Industrial/Warehouse
5428
16495
£8.50
27 Palmerston Business Park
Fareham
To Let
Industrial/Warehouse
2296
2296
£7.19
Unit B & C Centurion Park
Southampton
To Let
Industrial/Warehouse
11463
22944
3 West Quay Road
Southampton
To Let
Industrial/Warehouse
58920
92549
Unit J2 Hazleton Interchange
Waterlooville
To Let
Industrial/Warehouse
4205
4205
8 Moorside Place
Winchester
To Let
Industrial/Warehouse
5440
5440
Mountbatten Business Park, 3 Grove Road
PAGE 30
PRICE
for sale
PROPERTY
SYLCOMBE FARM, PETERSFIELD ROAD, ROPLEY, HAMPSHIRE SO24 0EF The site comprises of land and buildings and is split in two with a right of way access dividing the site.
£5.89 £360,000
POA
The western part of the site consists of an industrial/warehouse unit with loading canopy and yard area. A temporary portacabin office is located to the southern end of the unit. The eastern part of the site comprises open storage land over two levels. Location
£8.50
£4.09
£8.82
vailwilliams.com
Sylcombe Farm is a semi-rural location on Petersfield road to the east of Winchester and on the outskirts of Alresford. Access to the site is directly off Petersfield Road along a tarmac lane.
Open plan warehouse
GUIDE PRICE FOR WHOLE SITE
Loading canopy
£1,000,000
Dock leveller area
Overall site is approx. 1.67 acres with a warehouse of 5,173 sq.ft (480.6 sq.m)
Open storage land
CONTACT Alex Gauntlett on 07584 657826 or via email at agauntlett@vailwilliams.com
vailwilliams.com
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