Agency Services - Fareham Industrial Park
ABRDN needed assistance after their previous tenants of units 32-34 went into liquidation, just before the COVID-19 pandemic. ABRDN instructed Hellier Langston and Vail Williams, their long-standing property agents, to advise on how to refurbish and market the units to make them attractive to modern industrial / warehouse occupiers.
Abrdn is a global investment company and asset manager that owns commercial real estate nationwide. They are the owners of Fareham Industrial Park, located adjacent to Junction 11 of the M27, providing excellent links to the UK motorway network. Fareham town centre is within 1⁄2 a mile, Portsmouth city centre and Southampton Airport are situated within 7 miles and Southampton city centre is located 11 miles away.
Fareham Industrial Park offers good quality industrial and warehouse spaces; an ideal location for any business seeking good quality industrial property along the M27 corridor.
The Requirement
The property had been occupied by a 5-a-side football operator for a number of years and had fallen into disrepair. It also had planning consent for leisure use, something the landlord was keen to move away from. The COVID-19 pandemic inevitably presented some challenges throughout the initial refurbishments, but Hellier Langston and Vail Williams worked hard to maintain momentum during the marketing process.
The landlord was left with a significant and costly headache when the property became vacant. However, careful consideration of where occupier demand was likely to be met it was prudent to split the units into 2 units.
The Solution
Listed as one single unit, with relatively low eaves heights, Hellier Langston and Vail Williams advised abrdn to split the property into two units; attracting companies looking for a modern warehouse. Once planning consent for the industrial / warehouse units was obtained, they underwent a complete refurbishment; splitting the warehouses to form Unit 32 and Unit 33-34. Following the refurbishments, Unit 32 measures a total of 5,484 sq ft and Unit 33-34 has a total square footage of 11,067 sq ft. Both units now contain large warehouse spaces and modern open-plan offices.
The Outcome
Unit 32 and Unit 33-34 Fareham Industrial Park are now let long-term. Ecomar Propulsion Ltd occupies Unit 32, a manufacturing company that designs and builds environmentally friendly engines for the marine industry.
Unit 33-34 is let to Serpecon Ltd, a supplier of Materials handling conveying equipment for wastewater, municipal waste and biomass industries.
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Hellier Langston
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