South Coast Metropole South Coast Metropole - King Sturge

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King Sturge: South Coast Metrolpole 2008 Winchester Industrial Office Retail Prime rent £91.49m 2 £247.57m 2 £1,776.06m 2 Prime yield 6.50% 6.25% 5.00% Prospects Winchester Issues Nothing happens quickly in Winchester, and in the medieval city centre the pace of change can seem positively glacial. However, Thornfield Property have now finally received planning permission to redevelop the run-down Silver Hill area, to provide 9,290 m² of retail and leisure space in 14 units. The scheme includes a 2,787 m² foodstore, 260 apartments, 2,044 m² of offices, a medical centre and bus station. A successful development may require a compulsory purchase order to buy in third party ownerships within the site. This includes land owned by London & Henley, who own the Brooks Shopping Centre and have in the past promoted a rival scheme. St Thomas’ Passage, Winchester The UK’s largest planetarium opened in Winchester at Easter 2008. INTECH’s Science Centre provides a state of the art 176-seat theatre allowing visitors to explore the know universe through a high tech system of projectors and sound systems. The centre opens following a grant from the regional development agency, SEEDA. The owners of the Bar Offices at Barton Farm, Winchester, have let the converted farm buildings to English Courtyard Developments. The 232 m² office complex with 26 car spaces achieved a rent of £40,000 per annum on a new six-year lease. King Alfred statue, Winchester Maple House Investments have let Units 5 and 6 Moorside Place, Moorside Road, Winnall, Winchester, to Hampshire County Council. The units provide 967 m² of office space with 19 car spaces, and have been let on a new 15-year full repairing and insuring lease at a rent equivalent of £113.00 per m². 46
Dutton Gregory have taken the third floor of St George’s House, St George’s Street, Winchester. The 213 m² office suite achieved £35,603 per annum on a new 10-year lease subject to a fiveyear break clause. Kenmore Homes, the Winchester-based residential developer, has been acquired by Highcross Strategic Advisors, and re-branded Highmore Homes. Established in 2001, the company has offices in Winchester, Essex, The Midlands and Scotland. Highmore Homes has a pipeline with a projected turnover of £100 million in 2007/08. Production of the Vermouth Martini moved back to Italy in 2006. Belfast based investor Deramore Holdings has acquired the freehold interest in 12-15 High Street, Winchester, from British Land, for £11.25 million. The 4,702 m² Debenhams store is let on a lease expiring in March 2034 at £538,445 per annum. Maple House Investments have let Unit 2, Moorside Place on the Winnall Industrial Estate to Cinewessex, as their new production headquarters. The 433 m² unit with nine car spaces achieved £46,900 per annum on a new 15-year lease. The tenants have an option to acquire the freehold interest within the first two years. Paul Tanner Associations have taken an assignment of the first and second floors of 50 St George’s Street, Winchester. The 38 m² suite is let at £7,000 per annum on a lease from September 2004. Winchester 11 Bridge Street, Winchester, has been let to Redwood Health Therapies on a new 10-year lease at £18,000 per annum. Winchester Cathedral Market activity Bacardi have moved their UK offices to Royal Court, Kings Worthy, near Winchester, following the closure of their bottling plant in Southampton Docks. The plant primarily produced the alcopop Bacardi Breezer, which has seen a fall in popularity. Colin Bashford Associates (CBA Trees) have taken a new five-year lease at Apex House, The Apex Centre, Colden Common, Winchester. The twostorey suite of 165 m² with 10 car spaces achieved £25,000 per annum. Keyhaven Land (Winchester) have sold the freehold interest in Unit 3 Northgate Chambers, Staple Gardens, Winchester, to Tax Innovation. The 157 m² office block achieved the equivalent of £240 m². 47
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Page 4 and 5: King Sturge: South Coast Metrolpole
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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: Other commercial sectors Fareham In
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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