commercial property 17 Another good year for investment?
2013 was a record year for property investment and the market upturn is continuing into 2014, according to the capital markets team of a commercial property consultancy on the south coast.
The team from the office of Lambert Smith Hampton (LSH) was involved in investment transactions equating to just over £89 million in 2013, the majority of which were deals transacted in or around the south coast.
As well as acquiring and selling investments, LSH advised a number of institutional property clients acquiring property in the region via its industrial and office departments.
Jerry Vigus, director of capital markets, said: “As with the rest of the country, the south coast has experienced an increased level of investment activity. The lack of available, modern industrial units, as well as city-centre offices on the market is prompting UK institutions and property companies to acquire assets as soon as they become available, offering short, as well as long-term income.
“We have experienced a very high level of interest with most properties on the market going to two or three rounds of bids before a preferred party is selected to purchase.
“We expect the same level of activity to continue well into 2014 and we are already experiencing this with a number of transactions in solicitors’ hands, as well as reporting on several assets for clients in the South East which are likely to come to the market.“
LSH was involved in the following key transactions in 2013:
• The sale of Enterprise House, Portsmouth, to LaSalle Investment Management – a multi- let office building of 152,000 sq ft, sold at £3,05m.
• The sale of Eaton House on Maidenhead Office Park on behalf of Axa Real Estate – a 67,000 sq ft building let to Avaya for £16m.
• The sale of Limes Retail Park, Basingstoke, let to Co-op and Subway on behalf of Gentian Group at £1.76m.
• The off-market acquisition of Unit 1 Stephenson Road, Segensworth, let to
Marine site and business park plots go on the market
McFarlane Group – a 30,000 sq ft detached unit for Lewis Investments at £2.84m.
• Jointly advising Threadneedle on the acquisition of Titchfield Park, Segensworth – a multi-let industrial estate at £9.3m.
• The off-market acquisition of Unit 42 Oriana Way, Nursling, Southampton on behalf of CBRE Global Investors – a 62,000 sq ft unit at £4.3m.
• The acquisition on behalf of CBRE Global Investors of a 58,000 sq ft unit on the Nursling Industrial Estate of £5.13m, let to Aalco Metals.
• The sale of Eagle Point, Segensworth West. A multi-let office building amounting to 30,000 sq ft on behalf of Craigard Investments at £4.7m.
• Advising Cordea Savills on the acquisition of TW Metals’ unit on Nursling Industrial Estate, amounting to 108,000 sq ft at £10.05m.
• The acquisition of Malthouse Trade Park, Shoreham, Brighton on behalf of Hargreaves. Tenants include Travis Perkins, Screwfix and Howdens – a multi-let estate of 58,258 sq ft at a price of £6.45m.
Hythe Marine Park (left) and North Dorset Business Park
A rare opportunity has arisen to acquire a 12.1 acre freehold waterfront industrial estate at Hythe Marine Park just outside Southampton.
The site also has 33.4 acres of seabed currently leased from the Crown Estate and there is detailed planning consent for a further 40,000 sq ft industrial building in addition to the existing 224,410 sq ft.
CBRE has been appointed to manage the sale of this landmark site by informal tender, which is expected to be completed by early June.
The site, a former US military base, has been transformed in recent years into one of the
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – APRIL 2014
region’s most important marine business parks, securing the site’s long-term employment use as a specialist marine industrial estate.
Commenting on the opportunity, CBRE investment director Jon Diaper said: “Hythe Marine Park is a unique investment opportunity. The flexibility of space and direct access to Southampton Water enables tenants to be involved in some of the most specialist marine activities in the UK.“
Also new on the market are the recently-serviced plots at North Dorset Business Park. Acting on behalf of Dorset County Council, Homes &
Communities Agency and North Dorset District Council, estate agency and property services firm Goadsby has commenced formal marketing.
The whole site extends to approximately 11 acres with plots available from approximately 0.5 acres.
Outline planning consent has recently been granted for B1, B2 and B8 uses.
The site is recognised as one of the most important employment sites with development opportunities in North Dorset and there is already strong interest from a range of local and regional occupiers, says Goadsby.
www.businessmag.co.uk
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