4 Mauretania Road, Southampton
Warehouse to let - 18,078 sq. ft. (1,679.45m²)
The Quay, Southampton
Office suites to let - 4,299 sq. ft. (399.39 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)
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)
2 Kites Croft Business Park, Fareham
Warehouse to let - 35,059 sq. ft. (3,257m²)
4 Westwood Court, Southampton
Industrial unit to let - 1,780 sq. ft. (164.44m²)
4 St George's Industrial Estate, Eastleigh
Warehouse to let - 7,704 sq. ft. ( 716.02m²)
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
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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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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