South Coast Metropole South Coast Metropole - King Sturge

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King Sturge: South Coast Metrolpole 2008 Lok’n’store have acquired a 0.97 hectare site on Third Avenue, Millbrook, Southampton, for £3 million. The vendors were Southern Engineering & Machinery Components. Solent Re-Use has taken a lease on Unit 4 Northbrook Industrial Estate, Shirley. The 417 m² unit achieved £19,500 per annum, equivalent to £46.72 per m². The landlords were Petersfield Developments. Waste to Energy facility, Southampton Kier Commercial Investments have acquired the 0.91 hectare Brazier Industrial Estate on Millbrook Road West, Southampton. The freehold industrial investment provides 4,088 m², fully let, providing a total income of £217,000 per annum. Tenants include Carillion Construction, Solent Plumbing Supplies and Covers & Linings. Kier also acquired an adjacent freehold office building fronting Third Avenue last year. SEEDA, the regional development agency, has acquired RAF Hythe, a 6.87 hectare waterfront former military base to the west of Southampton. SEEDA acquired the site following the de-commissioning of the base under inter-governmental land transfer arrangements. The acquisition ensures the site remains in employment use, and surprised many private sector developers who were expecting the Ministry of Defence to market the site. The transfer, at between £4 and £5 million, will enable SEEDA to promote marine-related employment on the site. A joint venture partner is likely to be sought in due course. Office activity After an exhaustive search, Hampshire Constabulary looks certain to develop its new police station on a curious site close to the docks. The triangle site adjacent to West Quay Road, Mountbatten Way and Southern Road, owned by the council, will accommodation a new 9,290 m² facility, having previously been used as a haulage depot. The new facility will provide 42 cells and the CID. Freshwater Property have let the fifth and sixth floors of Dukes Keep, Marsh Lane, Southampton to Carnival, on a new five-year lease at £150.69 per m². All Leisure Group Plc have also taken the 14th floor at a similar rent. Fairline have taken a new 15-year lease on 743 m² of production and office space at Hamble River Boatyard. The building provides 604 m² of workshop space and 232 m² of offices. Fairline are paying £70,000 per annum and will use the space to sell their range of motorboats. Skandia House, Southampton Southampton Docks Teesland IOG and HBOS have let 372 m² of 36
Grade A office accommodation in Oceana House, Commercial Road, Southampton, to Benefex. The letting achieved an annual rent of £80,000. Craigard Investment have let part of the first floor of Hampshire House in High Street, Southampton, to chartered accountants Hayhursts. The fiveyear lease, subject to a break clause in year three, achieved £16,500 per annum. Mapeley Estates have let the ground and first floors of Grenville House, Southampton to BPP Professional Education. BPP took a new 10-year full repairing lease on 687 m² following a £1.5 million refurbishment of the building. Costa Coffee have taken the former Victory Pub on the ground floor facing Southampton Railway Station. Gate 4. The purchasers outbid Big Sleep, hotel operators backed by the actor John Markovich, who specialise in refurbishing buildings for hotel use. The future of the building is yet to be decided. Other activity Hammerson, owners of West Quay Shopping Centre, have sold a 50% share to GIC Real Estate, the investment arm of the Singapore Government. The £299 million disposal follows an acquisition of 50% from developers’ joint venture funders Barclays Bank for £240 million in 2004. GIC Real Estate were part of a consortium that acquired ABP for £3 billion in 2007. West Quay, Southampton Premier Marinas, the acquisitive marina operator backed by Merrill Lynch, have had their planning application to revitalise Swanwick Marina called in by the Secretary of State. The scheme includes 50 new waterfront houses, a new pavilion, offices and a brokerage business. Premier acquired the site from A H Moody & Son in 2005 and subsequently sold the boat-building business to Hanse Yachts in Germany. The Bill Dixon-designed yachts will now be built in Greifswald, Germany. Zurich House, Portsmouth Portcultis House, the former home of the Inland Revenue in Southampton, has been sold to Cherry Maine. The building is immediately adjacent to Dock Hendston Properties have acquired a former school at Church Lane, Fawley, to convert into offices. Formerly the offices of Trant, the two period buildings with a total area of 595 m² are available as individual suites. Woolworth have vacated their 2,090 m² store in Above Bar, retaining a presence for the time-being in Eastleigh and three sub-centres in Southampton. 37
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Page 35 and 36: Plans to redevelop the 12.54 hectar
Page 37: End, Southampton. Custom TV Ltd hav
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

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