SOUTH COAST PROPERTY SP TLIGHT +44 02380 330442 londonclancy.com Commercial Property Consultants Chartered Surveyors Industrial Market Commentary Nationally the big box market (warehouse buildings over 100,000 sq ft) has continued to perform well over the last 12 –18 months, it has been reported that for the first half of 2019 take up hit 12.5m compared to 16.4m for the same period in 2018. Demand again being underpinned by online retail activity although take-up slipped in this sector to 14% of the total half year take-up for 2019 compared to 25% for the same period in 2018. Brexit has caused some deals to be stalled although it is still anticipated that total take-up may exceed the 10 year average of 25m with the size range of 100-200,000 sq ft providing 66% of the total take-up. On Andover Business Park Centric 341 the new distribution building of nearly 342,000 sq ft has been let to UK technology distributors Westcoast Holdings. In respect of activity on the M27 corridor there has been a good level of activity across all locations. On major new industrial developments Eastleigh and Chandlers Ford continues to demonstrate its key strategic importance as a location with strong occupier take up. Paul Davies Freight have taken 40,000 sq ft at newly completed Unit 4 Reliant Close Chandlers Ford at a reported rental of £9.67 sq ft and Charles Kendall have taken 45,000 sq ft at Alpha Park Chandlers Ford Industrial Estate. At Mountpark Phase 2 Eastleigh, American company PFS Web has taken 107,500 sq ft as a fulfilment centre to serve their Heineken contract. Matthew Clark signed for the 67,500 sq ft unit relocating from Hedge End and DSV has taken the 95,000 sq ft building at a reported headline of £10.25 sq ft. At Hamilton Business Park, Hedge End off Junction 7 DFC Freight has taken a new unit of 24,760 sq ft. Likewise on Nursling Industrial Estate Junction 3, take up has been strong where Young Transport have taken 10 Oriana Way, a 61,000 sq ft unit and Gregory Distribution one of the largest privately owned transport companies in the UK, has taken 62,000 sq ft to serve its contract with Hovis Bakeries. More recently distributors of insulation and interior buildings, CCF have signed up on the 39,000 sq ft building on the South Central scheme. The fully refurbished Optima 125 building of 125,000 sq ft at Hounsdown Business Park near Totton has been let to a well-known online retailer at a rental of £8.50 per sq ft in the third quarter of 2019. In respect of employment land transactions, New Forest District Council have purchased a 3.48 acre site at Crow Lane Ringwood from Linden Homes South Limited. NFDC intend to develop the site for small industrial buildings for SME company occupation. London Clancy acted on behalf of Linden Homes South on the disposal, Kier Group who purchased 3 acres of land at Solent Business Park Whiteley for their Logistic City brand reported to be at a price of circa £900,000 per acre, are shortly to commence construction of their scheme which will accommodate occupiers looking to lease units, from 10,000 sq ft to 60,000 sq ft. For further details on anything in this spotlight please contact us: Take-up nationally of large industrial & logistics space (units of 100,000 sq ft +) hit 12.5 million sq ft in the first half of 2019. David Heda Business Space & Development Southampton Office 02380 330442 [email protected]London Clancy is a multi disciplined firm of Chartered Surveyors formed in 1990 in Basingstoke. In 2000 London Clancy opened their Southampton office and has further offices in Camberley and Winchester. The South Coast team have a successful record of undertaking a large variety of commercial appointments for clients and relevant expertise in the office, industrial, investment and retail sector. London Clancy covers the key commercial markets of Hampshire, Surrey and Dorset. • Local knowledge • Regional coverage • Personal service Professional services: • Rent reviews • Rating • Lease renewals • Asset Management • Valuations • Building Consultancy Advising local, national and corporate companies. Contact us: About London Clancy James Clay Business Space Basingstoke Office 01256 462222 [email protected]Ellis Sims Business Space Southampton Office 02380 330442 [email protected]Jim London Development & Investment Basingstoke Office 01256 462222 [email protected]Lisa Tippen Head of Professional Services Southampton Office 02380 330442 [email protected]Keith Harpley Business Space Camberley Office Tel 01276 682055 [email protected]PROPERTY SP TLIGHT +44 02380 330442 londonclancy.com Demand underpinned by online retail activity with occupiers in this sector accounting for 14% of all transactions in 2019.
Nationally the big box market (warehouse buildings over 100,000 sq ft) has continued to perform well over the last 12–18 months, it has been reported that for the fi rst half of 2019 take up hit 12.5m compared to 16.4m for the same period in 2018. Demand again being underpinned by online retail activity although take-up slipped in this sector to 14% of the total half year take-up for 2019 compared to 25% for the same period in 2018. Brexit has caused some deals to be stalled although it is still anticipated that total take-up may exceed the 10 year average of 25m with the size range of 100-200,000 sq ft providing 66% of the total take-up. On Andover Business Park Centric 341 the new distribution building of nearly 342,000 sq ft has been let to UK technology distributors Westcoast Holdings.
In respect of activity on the M27 corridor there has been a good level of activity across all locations.
On major new industrial developments Eastleigh and Chandlers Ford continues to demonstrate its key strategic importance as a location with strong occupier take up.
Paul Davies Freight have taken 40,000 sq ft at newly completed Unit 4 Reliant Close Chandlers Ford at a reported rental of £9.67 sq ft and Charles Kendallhave taken 45,000 sq ft at Alpha Park Chandlers Ford Industrial Estate.
At Mountpark Phase 2 Eastleigh, American company PFS Web has taken 107,500 sq ft as a fulfi lment centre to serve their Heineken contract.
Matthew Clark signed for the 67,500 sq ft unit relocating from Hedge End and DSV has taken the 95,000 sq ft building at a reported headline of £10.25 sq ft.
At Hamilton Business Park, Hedge End off Junction 7 DFC Freight has taken a new unit of 24,760 sq ft.
Likewise on Nursling Industrial Estate Junction 3, take up has been strong where Young Transport have taken 10 Oriana Way, a 61,000 sq ft unit and Gregory Distributionone of the largest privately owned transport companies in the UK, has taken 62,000 sq ft to serve its contract with Hovis Bakeries. More recently distributors of insulation and interior buildings, CCF have signed up on the 39,000 sq ft building on the South Central scheme.
The fully refurbished Optima 125 building of 125,000 sq ft at Hounsdown Business Park near Totton has been let toa well-known online retailer at a rental of £8.50 per sq ftin the third quarter of 2019.
In respect of employment land transactions, New Forest District Council have purchased a 3.48 acre site at Crow Lane Ringwood from Linden Homes South Limited. NFDC intend to develop the site for small industrial buildings for SME company occupation. London Clancy acted on behalf of Linden Homes South on the disposal, Kier Group who purchased 3 acres of land at Solent Business Park Whiteley for their Logistic City brand reported to be at a price of circa £900,000 per acre, are shortly to commence construction of their scheme which will accommodate occupiers looking to lease units, from 10,000 sq ft to 60,000 sq ft.
For further details on anything in this spotlight please contact us:
Take-up nationally of large industrial & logistics space (units of 100,000 sq ft +) hit 12.5 million sq ft in the fi rst half of 2019.
David HedaBusiness Space & DevelopmentSouthampton O¢ ce02380 [email protected]
London Clancy is a multi disciplined fi rm of Chartered Surveyors formed in 1990 in Basingstoke.
In 2000 London Clancy opened their Southampton o¢ ce and has further o¢ ces in Camberley and Winchester.
The South Coast team have a successful record of undertaking a large variety of commercial appointments for clients and relevant expertise in the o¢ ce, industrial, investment and retail sector.
London Clancy covers the key commercial markets of Hampshire, Surrey and Dorset.
• Local knowledge • Regional coverage• Personal service
Professional services:• Rent reviews • Rating• Lease renewals • Asset Management• Valuations • Building Consultancy
Jim LondonDevelopment & InvestmentBasingstoke O¢ ce01256 [email protected]
Lisa TippenHead of Professional ServicesSouthampton O¢ ce02380 [email protected]
Keith HarpleyBusiness SpaceCamberley O¢ ceTel 01276 [email protected]
PROPERTYSP TLIGHT
+44 02380 330442 londonclancy.com
Demand underpinned by online retail activity with occupiers in this sector accounting for 14% of all transactions in 2019.
+44 02380 330442 londonclancy.com
Ringwood – New Forest District Council purchased 3.48 acres of land from Linden Homes South Limited for small industrial buildings for SME company occupation.
Whiteley – Solent Business Park– Kier Group purchased 3 acres ofland for their logistic city brandreported to be at a price of circa£900,000 per acre, the scheme willaccommodate occupiers lookingto lease units, from 10,000 sq ftto 60,000 sq ft.
M271 – Adanac Park North – Oceanic Estates have commenced their scheme for up to 300,000 sq ft of B1 industrial space.
Hedge End / Horton Heath – Chalcroft Business Park the owners have submitted a full planning application for a small unit scheme of 28,000 sq ft and two larger units of 20,000 and 25,000 sq ft, London Clancy are advising the owners.
Industrial
Developments
Recent Transactions
Recent A
cquisitions
Chandlers Ford – Paul Davies
Freight acquired 40,000 sq ft at
newly completed Unit 4 Reliant
Close Chandlers Ford at a
reported rental of £9.67 sq ft.
Chandlers Ford – Charles Kendall
acquired 45,000 sq ft at Alpha Park
Chandlers Ford Industrial Estate.
Eastleigh – US company, PFS
Web acquired 107,500 sq.ft at
Mountpark Phase 2 Eastleigh as
a fulfi lment centre to serve their
Heineken contract.
Eastleigh – Mountpark Matthew
Clark acquired 67,500 sq ft unit
relocating from Hedge End and
during 2019 DSV has taken the
95,000 sq ft building.
Totton – Optima 125 totalling
125,000 sq ft has been to a
well-known online retailer at a
rental of £8.50 per sq ft.
O� ces On o¢ ces, take up has been more encouraging particularlyin the city centre.
There has been more emphasis now on shared working facilities with a major new shared workingfacility coming to the city centre branded Eagle Lab providing 12,500sq ft of o¢ ce space located in theMarlands Shopping Centre aimedat digital and creative companies.The fully refurbished White Buildingof 50,000 sq ft in Cumberland Placeis now fully let.
MOSL has taken on a 4,825 sq ft o¢ ce suite and joins an impressivelist of tenants, including James Cowper, Foot Anstey, Regis Bentley,Novum Law, Blue Arrow, Manpowerand Barton Willmore.One of the largest city centretransaction was the letting to Norwegian Cruise Line taking 17,263 sq ft at Mountbatten Houseand more recently 16,700 sq ft byAVASK at Oceana House at circa £21.00 per sq ft. Starling Bank havetaken new o¢ ces at Town Quayto provide accommodation for 50 software engineers and a 100in their customer service team.
Industrial Market CommentaryAt Adanac Park North Nursling Oceanic Estates have commenced their scheme for up to 300,000 sq ft of B1 industrial space.
At Chalcroft Business Park Burnett’s Lane Hedge End /Horton Heath the owners have submitted a full planning application for a 22,217 sq ft detached industrial B1 unit,
8,255 sq ft of B1 (b) and (c) buildings and 69,104 sq ft of industrial B1 (b) (c), B2 and B8 warehouse buildings. London Clancy are advising the owners.
Industrial investment yields remain keen evidenced by the disposal of The Quadrangle, Abbey Park Industrial Estate,
Romsey a multi let industrial estate of 125,000 sq ft which has been purchased by CBRE Global Investors on behalf of Hampshire County Council after a competitive bidding round refl ecting a yield in the region of 4.5%.
Threadneedle purchased the freehold of Avalon warehouse complex, Parham Drive, Eastleigh providing approximately 110,000 sq. ft. of space now being offered on a new lease.
M&G Real Estate purchased Phase 1 of the Mountpark scheme at Eastleigh let to Coopervision, Berensden and Paul Murray Cosmetics providing a total of 213,600 sq ft.
Land Off Crow Lane, RingwoodA 3.48 acre site with planning consent for 46,500 sq ft of B1 industrial space has been sold to New Forest District Council.London Clancy acted on behalf of Linden Homes and Wates.
Unit 3 The Quadrangle, Abbey Park, Industrial Estate, Romsey A 6,403 sq ft (594.95 sq m) industrial unit with high o¢ ce content. London Clancy acted on behalf of the tenants OneSubsea Limited part of Schlumberger.
Units 15 – 17 Mortimers Industrial Estate OwerNew detached building providing approximately 6,336 sq ft (588.62) sq m with 50% o¢ ce content. Let to Greensnow Online Fulfi lment Limited. London Clancy acted on behalf of private investors.
Brooklands Courtyard First Avenue Millbrook SouthamptonAn industrial / warehouse and o¢ ce complex providing a high bay warehouse of 4,744 sq ft (440.72 sq m) with rear o¢ ce and warehouse of 9,598 sq ft (892 sq m). Let to ChamSys Ltd. London Clancy acted on behalf of Kent County Council Superannuation Fund represented by DTZI and Frobisher Developments Limited.
Units 12 – 14 Mortimers Industrial Estate OwerA detached industrial unit of 3,344 sq ft (311 sq m) with mezzanine fl oor of 2,722 sq ft (253 sq m) let to local company Kitchen Collection Limited. London Clancy acted on behalf of private investors.
O� ce development site The Grange Nr Timsbury, RomseyA development site with full planning permission for self-contained o¢ ce buildings providing a total of 15,395 sq ft (1,430 sq m) purchased by developers. London Clancy acted on behalf of private owners.
Unit 5 Old Farm Court Nursling Street RownhamsNew o¢ ce building of 1,500 sq ft (139 sq m) purchased by Intersafe Limited for owner occupation. London Clancy searched identifi ed and acted on behalf of the purchasers.
Templar House Hampshire Corporate Park Chandlers Ford EastleighA 22,000 sq ft stand-alone o¢ ce building acquired for occupation by a hi-tech company who have occupied approximately 11,000 sq ft of the building. London Clancy searched, identifi ed and advised clients in respect of the purchase of the freehold.
+44 02380 330442 londonclancy.com
PROPERTYSP TLIGHT
On major new industrial developments Eastleigh and Chandlers Ford continues to demonstrate its key strategic importance as a location with strong occupier take up.
