South Coast Metropole South Coast Metropole - King Sturge
South Coast Metropole South Coast Metropole - King Sturge
South Coast Metropole South Coast Metropole - King Sturge
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Main commercial centres<br />
<strong>South</strong>ampton and Eastleigh<br />
Industrial Office Retail<br />
Prime rent £80.73m 2 £236.81m 2 £4,090.32m 2<br />
Prime yield 6.50% 6.25% 5.00%<br />
Prospects ✓ ✓✓✓ ✓<br />
<strong>South</strong>ampton<br />
Industrial Office Retail<br />
Prime rent £80.73m 2 £236.81m 2 £538.20m 2<br />
Prime yield 6.50% 6.25% 6.00%<br />
Prospects ✓ ✓<br />
Eastleigh<br />
Issues<br />
Ordnance Survey have received planning permission<br />
to move into a new world-class headquarters building<br />
at Adanac Park, adjoining J3 of the M27 motorway<br />
west of <strong>South</strong>ampton. The new facility will provide<br />
16,409 m² for the company who will move out of the<br />
existing Maybush headquarters once the scheme is<br />
completed by developer Kier. As well as a detailed<br />
planning permission for Ordnance Survey, the 29.94<br />
hectare site has also been granted outline consent<br />
for up to 60,000 m² of new office accommodation,<br />
allowing the city to compete globally for inward<br />
investment from new office occupiers. Barker Mill<br />
Trust, who own the site, are considering options<br />
to promote the balance of the site to the market.<br />
Ordnance Survey’s existing facility in Romsey Road,<br />
Maybush, will be redeveloped to provide a mixeduse<br />
residential, office and retail scheme.<br />
Hammerson are acquiring the final site adjoining the<br />
West Quay Shopping Centre from <strong>South</strong>ampton<br />
City Council. The developers, who also own the<br />
shopping centre, are proposing a mixed-use retail,<br />
cinema and 120-bed hotel scheme on the site.<br />
The site will also incorporate a new piazza and a<br />
27-storey high-rise residential block providing 200<br />
new apartments. The scheme could be completed<br />
by 2010 and provide a boost to retailing in the city<br />
which has seen its national ranking slip from seventh<br />
to thirteenth. The site adjoins a new headquarters<br />
for cruise ship operator Carnival and IKEA.<br />
West Quay, <strong>South</strong>ampton<br />
Antelope House, one of <strong>South</strong>ampton’s ugliest<br />
buildings, has been demolished to make way for<br />
a new mixed-use development. The building on<br />
Bursledon Road, <strong>South</strong>ampton, will be replaced by<br />
the second phase of Rokeby Developments’ new<br />
16,722 m² mixed-use scheme, Antelope Park. The<br />
first phase replaced builders’ merchants Jewson, in<br />
a new 1,858 m² unit, a relocation from their original<br />
store under Antelope House. The scheme, funded<br />
by Morley Pooled Pensions is pre-let to home, retail<br />
and garden retailer The Range (6,503 m²), Gola<br />
Leisure (3,716 m²) and KFC. A further 5,574 m²<br />
remains available.<br />
<strong>South</strong>ampton General Hospital<br />
Key Property Investments, a joint venture between<br />
St Modwen Properties and Salhia Real Estate,<br />
has taken over the former Alstom carriage works<br />
in Campbell Road, Eastleigh. St Modwen are now<br />
operating the 55,741 m² of railway repair sheds<br />
and warehousing as a managed estate, while<br />
29
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