The South East Hampshire - The Perfect Location
Hampshire is the fifth most populous county in England and one of the most beautiful, with the meandering Test Valley and the stunning New Forest. It really is no surprise that the area boasts such a large catchment population, given its natural beauty and appeal.
Hampshire is a strategically significant area for industrial and logistics activities due to its proximity to major transportation networks, including motorways (like the M3 and M27), seaports (notably the Port of Southampton), and airports (like Southampton Airport). Here’s an overview of the current state and trends within this market.
The inflated costs of warehouse space in London have driven many occupiers from Southwest London from the likes of Wimbledon and Weybridge where we are seeing rents hit £25 per square foot and rising further out and we are continuing to see a theme of migration to outer suburbs and the home counties. Moreover, Hampshire benefits from its proximity to highly affluent areas such as Surrey, where the per capita income exceeds £30,000, which is almost 50% higher than the national average of c. £21,000. The surrounding region is experiencing considerable population growth on average 5% per year. The rise of wealthy consumers in the region has been instrumental in driving demand for online shopping, rapid and efficient delivery networks. With increasing consumer demand for fast deliveries, Farnborough’s location supports efficient same-day and next-day fulfilment, making it ideal for e-commerce and retail occupiers.
Planning in Hampshire, as in many counties, remains slow and restrictive, limiting the supply of new developments. Recently, large-scale projects in Basingstoke have faced continued planning rejections, further constraining growth. The upcoming Vanguard development at Longmoor, however, cannot come soon enough for large-scale distribution occupiers. While the cancel has imposed strict planning conditions, the new 150,000 and 20,000 sq ft warehouse will be among the greenest ESG-compliant facilities built to date, with locally sourced cladding from within a few miles of the site.
The county urgently requires carefully considered distribution hubs along key arterial roads and around the south coast. Areas like Chichester and Southampton, with limited available buildings, are prime candidates. Given the ports, universities, and tourist attractions, these regions present a wealth of opportunities. Modern, well-designed distribution parks would help local markets function more efficiently and reduce the reliance on imported traffic from the midlands.
M1 Agency has recently been involved with a number of lettings in the area including the most recent, Orbit 121, Andover a unit spanning 121,078 sq ft. A 15 year lease was agreed at a rent of £7.75 per square to Corndell Quality Furniture Ltd.
Another unit on the South Coast, Radial 27, Fareham, was agreed at £11.00 per square foot on a 10 year lease to PFS Global Services UK Ltd. A little further towards London, M1 agreed a freehold sale to Stark Building Supplies on a unit of 27,944 sq ft at £4.5m demonstrates occupiers continues commitment to the area in the long term.
Latest Opportunities Hedge End 113, Tolbar Way we are letting a unit of c.113,000 sq ft at a rent of £12.00 Per Square Foot.
Vanguard Logistics Park, Longmoor two units of 200,367 sq ft and 146,196 sq ft quoting £12.50.
The Hampshire Industrial and Logistics Market is thriving due to strong demand for warehousing and logistics space driven by e-commerce growth, robust transport infrastructure, and proximity to the Port of Southampton. While challenges like land scarcity and labor shortages exist, the outlook remains positive, with continued investment and development in this sector. The emergence of the Solent Freeport and sustainable building initiatives are also expected to further stimulate the market.
TOLLBAR WAY | HEDGE END SO30 2UH
HEDGE END 113 TO LET DETACHED WAREHOUSE
113,071 SQ FT WITH DUAL ACCESS SECURE YARD
Elise Evans
07703 393120
eevans@lsh.co.uk
Adrian Whitfield 07901 558730
Jonjo Lyles 07388 488252
jonjo.lyles@
1agency.co.uk Sophie Cordery
07825 380457
Dan Rawlings 07702 809192
drawlings@lsh.co.uk Luke Mort
07591 384236
adrian.whitfield@realest.uk.com
sophie.cordery@
m1agency.co.uk lmort@lsh.co.uk
UNDERGOING REFURBISHMENT READY FOR 0CCUPATION Q4 2024
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