South Coast Metropole South Coast Metropole - King Sturge

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King Sturge: South Coast Metrolpole 2008 In Southampton Linden Homes’ French Quarter continues to sell well with prices aimed at the affordable level. Barratt’s landmark scheme at Oceana Boulevarde, with good views over the docks and Southampton water, has sold well at the lower end of the market but has struggled with the more expensive two-bedroom apartments. This reflects the oversupply of two bedroom apartments in the south at the moment but shows that the lower end of the market is still moving. We believe the market will return for the two-bedroom apartments but quality of finish, location and parking will be a major factor in achieving sales. The city has again seen some interesting planning applications including Mayflower Plaza, a mixed scheme of office, hotel and residential in a prominent central location with good views over the city and docks from the upper floors. Developers Terrace Hill, after long pre-application consultations with the planners, expect a decision in the summer of 2008. City Lofts’ scheme on the site of the former Tyrell and Green building in Southampton moved a step closer to development with the grant of detailed consent, but has yet to start construction. With some other interesting high-rise schemes waiting in the wings, Southampton, Bournemouth and Portsmouth are poised for landmark schemes in the coming years, reflecting the confidence developers place in the South Coast region. by Barratt Homes for £2.2 billion. This could lead to the development of the next phase in Ocean Village, which will provide 435 flats and 5,000 m² of new retail and restaurant units. The Isle of Wight has again seen pockets of dramatic growth with developments in Cowes coming to completion and Barratt’s new scheme ‘Nautiqua’ well situated on Cowes seafront still under construction. The market here, reliant as it is on mainland second-home buyers, has been affected by the slowdown, although the Barratt’s scheme in East Cowes, known as the Hawthorns and whose first phase in now under construction, has generated a lot of interest from both local and mainland buyers. The interest in the island market from mainland developers continues at pace with more and more recognising the potential the Island has to offer. Cowes chain ferry Miller Homes are the latest developers to journey across the water, having been chosen as preferred developers for the Pan Scheme at Newport in the centre of the island. This scheme will involve a high proportion of affordable homes and will be a major expansion of the island’s capital. Telephone House, Southampton Also in Newport plans for a major development of Blackhouse Quay have been announced which will include 217 homes, business units and a hotel. London-based Fairholme Estates are the applicants. Wilson Bowden, the developer of Admiral’s Quay at Ocean Village, Southampton, has been taken over 24
market, although there are some larger apartment schemes still in the planning stage. Dolphin Quays, Poole East Cowes Poole’s popularity, especially the Sandbanks peninsula, continues unabated with some of the most expensive property in the world in one of the most stunning locations. This has been further fuelled during the year by a television documentary about life on the peninsula. Elsewhere in Poole, Patch Properties have revealed plans for a 13-storey hotel and up to 250 apartments, shops and restaurants on the former Thistle Hotel and East Quay Depot Site. Bournemouth, like many towns in the south, suffers from an oversupply of two-bed apartments, although as ever good location and sea views continue to be the catalyst for successful sales. The C&A building in Commercial Road has provided interest with Asset Trust Housing developing shared ownership apartments. Other developers in the area continue to develop schemes usually just below the affordable housing threshold. Local specialist developers continue to dominate this Poole Harbour Portsmouth Football Club continue to seek a new site for their club with the futuristic proposal close to the docks not finding favour with the authorities. Wherever is eventually chosen, residential development in one form or another is bound to be a catalyst either in the sale of their existing site or the creation of a new one. Linden Homes will soon be marketing ‘Vista’ a development of one- and twobedroom apartments close to the railway station, while Berkeley Homes market the last of their luxury crescent penthouses at Gunwharf Quays. Barratt, Crest, Bellway and Bryant are all active in the city. Berkeley’s striking tower development known as No 1 Gunwharf Quays will accommodate 141 studios and one-, two- and three-bed apartments. This spectacular building is meant as a foil to the Spinnaker Tower, which represents sail, while No 1 represents steam. 25
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Page 35 and 36: Plans to redevelop the 12.54 hectar
Page 37 and 38: End, Southampton. Custom TV Ltd hav
Page 39 and 40: Grade A office accommodation in Oce
Page 41 and 42: McAleer & Rushe, the Irish property
Page 43 and 44: Rok have completed a £1 million mi
Page 45 and 46: Birchmere have let Building D.22 at
Page 47 and 48: Other commercial sectors Fareham In
Page 49 and 50: Dutton Gregory have taken the third
Page 51 and 52: to Her Majesty’s Court Service (H
Page 53 and 54: Isle of Wight Industrial Office Ret
Page 55 and 56: Weymouth Industrial Office Retail P
Page 57 and 58: Notes 55
Page 60: LOCATIONS UK England • Scotland

South Coast Metropole South Coast Metropole - King Sturge

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