South Coast Metropole South Coast Metropole - King Sturge

King Sturge: South Coast Metrolpole 2008
Bournemouth and Poole
Industrial Office Retail
Prime rent 80.73m 2 £193.75m 2 £2,152.80m 2
Prime yield 6.50% 6.50% 5.00%
Prospects ✓ ✓✓
Bournemouth
Industrial Office Retail
Prime rent 80.73m 2 £193.75m 2 £1,614.60m 2
Prime yield 6.25% 6.00% 5.25%
Prospects ✓ ✓✓
Poole
Issues
Bournemouth is to join an elite group of only four
other places in the world with an artificial surf reef.
The reef, located 2.5 km to the east of Boscombe
Pier, and taking up approximately 1 hectare, 225 m
from the shoreline, is intended to attract surfers
from all over Europe. The only other artificial reefs
are in Narrowneck, Queensland, and Cables, both
in Western Australia and Mt Managanui, New
Zealand.
Irish developers McAleer & Rushe have acquired
the St Paul’s Square site in Bournemouth from
Rok, following a decision by Rok to dismantle
their development business. The site currently
has planning permission for two office buildings
totalling 9,290 m². McAleer & Rushe intend to apply
for consent for a new Jury’s Inn Hotel on part of the
site, mirroring similar schemes in Portsmouth and
Southampton.
P.H Warr have acquired Link House, Poole, once
the home of Exchange and Mart, for a major
office refurbishment. The 3,299 m² building will be
available for occupation mid-2009.
Key Property Investments, a joint venture between
St Modwen Properties and Salhia Real Estate Co of
Kuwait, have let 1,858 m² within their office scheme
at Canford House, Discovery Court Business Centre
Poole. Bournemouth and Poole Primary Care Trust
took a new 15-year lease at an annual rent of
£168,300 with breaks in 2011 and 2018. The letting
within the 7,432 m² business centre followed the
merger of Bournemouth Teaching PCT and Poole
PCT.
Poole Harbour
Poole continues to find room for an ever-increasing
stream of new industrial developments. Space
Property, funded by Standard Life have completed a
3,530 m² scheme with ten units at Poole Trade Park.
Trade Park specialists Fix UK have also acquired 15
units totalling 3,902 m² from Chancerygate, at the
Broadstone Way Trade Centre.
Patch Properties, who acquired the Thistle Hotel in
Poole for £19 million in 2006, are proposing a major
redevelopment of site. Plans are being considered
for a new 13-storey hotel and 250 apartments on
the waterside site. The scheme could also include
retail and restaurant units. The 1.49 hectare
site is currently the subject of an environmental
scoping exercise to determine the impact of any
development on the site.
McCarthy and Stone, Bournemouth
42