Industrial Agency Disposal - Fareham Industrial Park | Hellier Langston

Industrial Agency Disposal - Fareham Industrial Park

Hellier Langston have been long standing letting agents for Standard Life Investments on Fareham Industrial Park, Standard Way, Fareham.

What we did

Citylink

The main part of the accommodation of units 13-19, totalled 100,469 sq. ft. (9,330 sq. m.) and was no longer deemed attractive to a single occupier given the layout and also the dearth of enquiries of that size. In conjunction with our joint agents, a comprehensive marketing campaign was launched including a complete rebrand of the estate, which demonstrated the flexibility of the vacant space and the ability to offer units from 13,000 sq. ft. up to 100,000 sq. ft.

With Hellier Langston’s extensive knowledge of the regional industrial market, we were aware of a number of large occupiers with pending lease events, which could trigger a desire to relocate.  City Link, the parcel distribution company had been identified at an early stage as an ideal tenant for Fareham Industrial Park, allowing them the opportunity to consolidate two existing facilities on the South Coast.

 What we achieved

Terms were agreed with City Link on units 14-16, 61,986 sq. ft. (5,759 sq. m.) with the letting completed in May 2013.  City Link committed to a ten year lease with a five year break option at a headline rent of £5.65 per sq ft.  Standard Life were delighted the deal, which represented one of the most significant industrial lettings on the South Coast for a number years and dramatically reduced the void on Fareham Industrial Park.


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Project

Following the departure of the Co-operative Group from the estate in 2011, over 100,000 sq. ft. became vacant, creating a large rental void.  Hellier Langston were instructed to provide advice and market the vacant space, a significant challenge in a difficult market.

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