Parklands Business Park, Denmead
Industrial Unit - 27,600 sq. ft. (2,565.3m²)
20 Queensway, New Milton
Industrial unit to let - 10,066 sq. ft. (935.13m²)
4 Mauretania Road, Southampton
Warehouse to let - 18,078 sq. ft. (1,679.45m²)
The Quay, Southampton
Office suites to let - 1,524 sq. ft. - 5,823 sq. ft. (141.2 m² - 540.96 m²)
42 Oriana Way, Southampton
Industrial unit to let - 62,003 sq. ft. (5,760.06m²)
Second Floor, 3500 Parkway, Whiteley, Fareham
Open plan offices to let - 8,248 sq. ft. (766.01m²)
10 Oriana Way, Southampton
Warehouse to let 61,044 sq. ft. (5,670.99m²)
6 The Potteries, Wickham Road, Fareham
Offices to let - 1,940 sq. ft. (180.19m²) - 4,233 sq. ft. (393.29m²)
Independence, 3 Stanbridge Road, Havant
New industrial unit to let 21,312 sq. ft. (1,980m²)
9b Herald Industrial Estate, Hedge End
Industrial unit to let - 6,444 sq. ft. (598.65m²)
Office Agency Disposal - 1 Guildhall Walk, Portsmouth
For a number of years, Hellier Langston have advised the University of Portsmouth on a wide variety of commercial property matters.
What we did
Given the scarcity of office requirements for Portsmouth, particularly for buildings of this size, Hellier Langston met with the University’s Estates Department at an early stage, well before their planned departure from the property, to discuss a strategy. Due to the potential lack of demand in the property for office use, it was essential that alternative uses were identified and purchasers identified. Due to Hellier Langston’s extensive contacts and market knowledge, we were aware of a local pharmacist with a requirement for new premises in Guildhall Walk. The pharmacist’s requirement was immediate, and with this in mind an agreement was reached which allowed the sale to complete but allowing the University to remain in occupation of the upper floors, whilst allowing the purchaser to fit out the ground floor.
What we achieved
The sale equated to approximately £100 per sq. ft. and was completed with such speed that the University had no concerns over the property remaining vacant following their departure and the associated costs involved. It represents one of the highest profile office disposals in Portsmouth in the last five years.
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As part of the University’s continued expansion and acquisition of larger offices within the city, a number of their facilities had become surplus to requirements including 1 Guildhall Walk, a 7,465 sq. ft. (693.79 sq. m.) five storey office building in Portsmouth City Centre. Hellier Langston were instructed to provide marketing advice to the University with a view to disposing of the offices.
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