headlines-newsletter

Spring 2018

HEadlines
A View Across the Solent South Coast Real Estate Market

Solent business
still going strong

Industrial lettings
achieve record rents

In this > Industrial record rents increase speculative development
issue: > Shortage of supply could lead to pre-letting of office space
> Offices, industrial and retail premises for sale and to let

WHERE GREAT BUSINESSES RUN

The home of business success on the South Coast

Choosing the right office location matters. Lakeside A Selection of Grade
North Harbour offers a vibrant business community A office space
and unparalleled lifestyle wraparound to traditional
workspace, helping you build success. Great transport links
including shuttle bus
To join the other great businesses running
at Lakeside North Harbour, contact Karen Open landscape for
on (+44) (0) 23 9238 9056 or running and walking
[email protected]
Children’s nursery

Onsite hotel, gym and
leisure facilities

Shops and cafes

J12 M27 | www.lakesidenorthharbour.com

HEadlines Foreword

Industrial Contents
growth takes
root Hughes Ellard top
Office Agents’
In our last edition of HEadlines we reported
exciting times ahead in 2017 with a number of key League Table....................... 5
speculative industrial schemes to be constructed. Meet our Team.................... 9
PNH Expansion...................11
Indeed, the three schemes mentioned, Mountpark, Eastleigh, Alpha
Park, Chandlers Ford and South Central, Nursling have all secured LeadStream Relocate...15
lettings at record rents over £9.00 per sq ft per annum exclusive - the Searching for Offices....15
latest being a pre-letting to John Lewis Partnership at South Central. Agile Working.................... 17
Capital Allowances.........18
This boosts confidence for developers and fund managers investing
in our region, demonstrated by Hughes Ellard, acting on behalf of Industrial -
Grainger plc, of a 35 acre site at Waterlooville at the end of 2017 strong demand for
to Equation, funded by LaSalle Property Managers, who intend to
speculatively develop their first phase by 2019. trade counters.................. 21
Retail News...................... 23
We have also seen LaSalle invest in a 5 acre site at Havant, known
as Velocity. They will, reportedly, commence construction in May to MEES Regulations........ 25
deliver a new scheme by the end of this year and Marick Estates
intend to also start construction at Segensworth for a new Guide to Property
50,000 sq ft building.
Acquisition........................ 25
This bodes well for a 4.7 acre site in Segensworth near Fareham that Green Issues.................... 26
Hughes Ellard are selling on behalf of Hampshire County Council,
suiting industrial development for developers and occupiers alike. Current Property

Whilst 2017 saw less take-up than previous years in the office sector, Listings...................... 27-31
there is no doubt that there is a shortage in the supply of Grade
A office space across the corridor, particularly Chandlers Ford and
Eastleigh, with still little hope of speculative development occurring,
making the new Chilcomb Park, Winchester 21,000 sq ft building
nearing completion even more desirable. We have no doubt that we
will continue to see rental growth in this sector as demand outstrips
supply.

We have seen a particular surge in business owners wanting to
own their own properties, perhaps encouraged by low and stable
interest rates, but also motivated by rising rents. The problem - as for
industrial space - is a severe shortage of property to buy.

Out-of-town and roadside retail remains upbeat despite the recent
reports of a number of brands reducing their footprint across the UK.

Our Search & Acquisition service has never been so busy, with many
businesses struggling to find new premises.

Fareham Office 01329 220033 Southampton Office 023 8022 4080
Cams Hall Estate, Fareham, PO16 8UT 3 Ocean Village, Southampton, SO14 3XB

TO LET

Last Remaining Suite
(486.56 sq m)

■ Prominent position
■ 35 parking spaces
■ Impressive new reception area
■ Striking central atrium
■ Excellent natural light
■ Mature landscaped setting

4500 PARKWAY Solent Business Park PO15 7AY

4

HEadlines Office Insights

Topping M27 FINDING
office agents’ THE RIGHT
league table PREMISES

Hughes Ellard has achieved a fifth year of success in the M27 Hughes Ellard are regularly
office agents’ league table for Hampshire. retained by business owners
to help find suitable premises,
The agency, which covers the Solent region, where there are often having become frustrated
50,000 businesses, has now disposed of the most floor space in what starts off as an easy
in four out of the last five years. exercise but fast becomes a
distraction to their business.
In the latest annual results, the 30-strong firm led with 39 deals involving a total
of 202,019 sq ft. Estates Gazette, the commercial property magazine, compiled One recent example was an
the league table from disposals recorded from the 12 months to the end of office relocation for Menzies’
August 2017. local Solent office.

After Hughes Ellard, which recorded an average deal size of 5,180 sq ft, the Our client had recognised that
largest number of disposals was 31. Last year Hughes Ellard was a close second, they had a lease expiring in
having previously led the league table for three consecutive years. approximately 12 months time
and, whilst had successfully
Gary Jeffries, Hughes Ellard’s managing director, said: traded from it for 10 years, they
wanted to operate from a single
“The Solent region has a flourishing, diverse economy, from the services floor to take advantage of
sector to industry and manufacturing. In turn, demand is created by creating stronger team working
expanding companies for new staff-focused office space, such as the in an open plan environment.
54,136 sq ft letting to Babcock International Group at Lakeside North Following a meeting to run
Harbour, Portsmouth, in a joint deal by Hughes Ellard and Vail Williams. through the brief, it was clear
Our dedicated team act collaboratively with clients, who value our our task was to identify a 6,000
individual and collective knowledge of the market. Hughes Ellard has been to 7,000 sq ft office suite at
delivering market-leading consultancy for five decades now and topping the Solent Business Park, Whiteley.
M27 office agents’ league table once again, for the fourth time in five years,
is testament to what the team does.” Hughes Ellard implemented
a search immediately to local
Hughes Ellard’s total disposed space of 202,019 sq ft was nearly twice that of the and regional office agents
second highest figure recorded. and landlords in the area. We
included within the search a
According to Estates Gazette, total space disposed along the M27, covering slightly wider geographic, to
Southampton and Portsmouth, was 483,486 sq ft, down by 7% on last year, and ensure all bases were covered.
the average deal size was 3,453 sq ft, up by 4.2%. Following a detailed report on
occupational costs of available
Hughes Ellard, established 46 years ago, has offices at Ocean Village, buildings, we then set to view a
Southampton, and Cams Hall business park, Fareham. shortlist of properties.

Professional services include development appraisal, search and acquisition, Once the shortlist had been
valuation, rent review and lease renewal, asset management, building refined to three properties,
consultancy, disposals and investment advice throughout the Solent region and we then set to requesting
the UK. proposals from the landlord’s
agents based on our client’s
Hughes Ellard’s business space team is led by Russell Mogridge and includes Nik requirements of lease terms,
Cox, Harnish Patel, Will Elgeti, Tim Clark and Gary Jeffries. etc.

We fixed upon the Zurich Centre
Solent Business Park and
quickly agreed commercial terms
to take a new 5 year lease,
negotiating a healthy rent free
package saving our client over
£180,000 over a 5 year period.

Gary Jeffries Harnish Patel Tim Clark 5 Will Elgeti Russell Mogridge Nik Cox
[email protected] [email protected] [email protected] [email protected]
[email protected] [email protected]

5

Office Premises To Let Sheridan House
Jewry Street
Location Winchester
Hampshire
The property is located on Jewry Street, in the heart of the city of SO23 8RY
Winchester, close to the main shopping area.
Size:
It is within a short walk of Winchester railway station with regular 81.85 sq m (881sq ft) to
services to London Waterloo (approximately one hour) and 932.74 sq m (10,040 sq ft)
Southampton (20 minutes), as well as other destinations around the
South Coast. Rent:
On application
Restaurants and other amenities are in very close proximity.

Description

Sheridan House is a purpose built four storey, mid-80’s office and
retail building and is situated in a prominent central location, fronting
Jewry Street in the heart of Winchester.

The available space is situated on the lower ground, ground, first and
third floors and can be taken together or separately.

• Heart of the city • 6 parking spaces
• Modern open plan accommodation • Kitchenette


EPC Rating Band - C/68

Contact:
Nik Cox Tel: 023 8065 9178 [email protected]
William Elgeti Tel: 023 8017 0748 [email protected]

6

WORK.
ENJOY.
B R E AT H E .
SOCIALISE.
A NEW PERSPECTIVE.
OFFICE SPACE UP TO 59,684 SQFT.

HIGH SPEC FLEXIBLE CONTACT:
BUSINESS SPACE. James Brounger
AVAILABLE TO LET. [email protected]

Part Floors from 6,000 SQ FT Nik Cox
Full Floors from 17,294 SQ FT [email protected]

THEFORUMSOLENT.CO.UK

Concorde Way
Segensworth
North
Fareham
Hampshire
PO15 5RX

Commercial Property Development Site For Sale Approximately
4.7 acres (1.91 Ha)
Of interest to commercial property developers and owner occupiers
For Sale
A rare opportunity to purchase a development site for speculative industrial development or
for a business to self-build a facility within a secure site.
Concorde Way is a popular and established high quality industrial logistics location, home to
Coopervision contact lens manufacturer, TUVSUD, Gemalto, Turbomeca, GMK and UK Mail.
The industrial estate is located immediately off junction 9 of the M27, not only providing
excellent access to both Portmouth and Southampton but also the rest of the UK with
connections to both the A3 and M3 corridors.

• Rare opportunity to purchase a development site • All time low availability

Contact: Russell Mogridge

Second Floor
Bramble House
Furzehall Farm
Wickham Road
Fareham
Hampshire
PO15 7JH

Modern Office Suite To Let Size:
71.44 sq m (769 sq ft)
The property occupies a highly accessible location fronting the A32 close to Junction
10 of the M27 and about 1.5 miles north of Fareham town centre, and is ideally situated Rent:
for occupiers looking for a prestigious headquarters accommodation located between Suite B -
Portsmouth and Southampton. £9,250 per annum exclusive
Bramble House is a modern detached three storey office building benefiting from Tenure:
communal ground floor entrance lobby with stairwell, lift and WCs to each floor. Leasehold
The property is set within an established landscaped office campus and benefits from
on site allocated car parking. EPC Rating Band - C/58
• Car parking spaces • Comfort cooled • Flexible lease terms

Contact: Russell Mogridge

8

HEadlines Meet our Team

Elevated thinking Gary Jeffries – Managing Director

Across our areas of expertise and our geographic Gary has been one of the major players in
reach, we are driven by a passion for what we do. the Solent region’s property market for over
Day-in, day-out, we aim higher, applying rigorous 25 years. He is Fellow of the Royal Institution
standards of professionalism to deliver Commercial Real of Chartered Surveyors (RICS). As Chairman
Estate & Residential land sales agency, together with of Solent Local Enterprise Partnership (www.
professional advisory services that are innovative and solentlep.org.uk), he is at the forefront of
value-adding. shaping the economic development agenda
The quality of advice we give to our clients has made in south Hampshire and successfully led
us regional leaders in our field. This fusion of talent and negotiations with Government for the
experience helps us deliver outstanding results. region’s £150m Growth Deal.

Russell Mogridge – Director Tim Clark – Director, Retail & Leisure

Russell Heads up our Transactional Team. He has Tim heads up our Retail & Leisure team,
advised on the major industrial estates and office acting for many of the institutional landlords
parks across the central south and has a talent owning shopping schemes across the south.
for developing and executing creative marketing In addition, Tim works with national and local
campaigns to generate results. This has led to him retailers assisting them with acquisitions,
handling schemes “from cradle to grave”, advising lease disposals and professional work.
on land assembly for development, identifying
end users and selling the end created investment.
Russell also specialises in business relocations
saving his clients thousands of pounds in both
their time and on the deals negotiated.

Nik Cox – Director Tim Poynting – Director, Property Asset Management

Nik has over 15 years’ experience in south Tim heads up our property management
coast property markets. He has a wealth department from our Southampton office. He
of experience in both the acquisition and deals primarily with property management of
disposal of Office and Industrial premises, some of the leading Office & industrial parks
together with development and investment in central southern England. Clients include
advice to local regional and national clients. corporates, owner occupiers and local/
regional investors/developers, advising on
service charge & rent collections as well rent
review & lease renewal strategy.

Carl Walker – Director Nicholas Miles – Associate Director

Carl leads our Non Transactional professional Nick heads up our Building Consultancy
advisory teams. Besides specialising in Services team, delivering an array of Building
property investment, he is experienced in all Surveying services, including dilapidation
aspects of valuation, landlord & tenant work claims on lease expiry for both occupiers
plus a niche specialism in medical premises. and landlords, together with schedules of
condition at lease commencement and
project managing & tendering for commercial
property fit-out.

A ge n c y
B uildi n g S urve y i n g

V aluatio n
A c q uisitio n

To view our full property listings visit 9www.hughesellard.com

Office Building To Let Second Floor
Oakmount House
Location Oakmount Road
Chandlers Ford
The property is prominently located on the corner of Oakmount Road Hampshire
and Winchester Road. This location offers excellent motorway and SO53 2LM
railway links with the M3, Junction 13 and Chandlers Ford Railway
Station less than 1 mile away. Size:
167.23 sq m
Nearby occupiers include; Lloyds Bank, Co-op, Costa Coffee and (1,800 sq ft)
Waitrose.
Rent:
Description £25,200 per annum
exclusive
The second floor comprises open plan space with two small cellular
offices and boardroom, with good natural light offering a very large
open feel.

The Suite benefits from a kitchenette, recess Cat 2 lighting, perimeter
trunking, gas wet heating system and comfort cooling cassettes.

The floor has lift access and w/c facilities.

• Central location • Open plan floor plate
• Good amenities • Allocated parking
• Comfort cooling

EPC Rating Band - D/81

Contact:
William Elgeti Tel: 023 8017 0748 [email protected]

10

HEadlines PNH Expansion

Property developer
builds on expansion

A UK and overseas-based BUILDING AND LOCATION:
development group has The PNH Properties Group team with Hughes Ellard’s Russell Mogridge (third from left).
signalled its expansion
plans by moving to new “We’re grateful to Russell Mogridge at deliver 1.5 million new homes by 2022.
headquarters in Hampshire. Hughes Ellard for sourcing our exciting
new headquarters as there is so little Our client Criddlestream acquired the
PNH Properties Group has taken quality office accommodation along office property as an investment in
occupancy of a 2,717 sq ft first-floor the A3 corridor. Our new base is ideal 2013. It was originally let to Sage and
office suite at 8 Rotherbrook Court, for taking the business to the next they are delighted Hughes Ellard has
Bedford Road, Petersfield. Hughes level.” found an exciting and progressive
Ellard acted for a private landlord in replacement tenant.
securing the 10-year lease at £36,000 Russell, a director at Hughes Ellard,
per annum. said, “PNH is a well-established There is little availability in Petersfield
business committed to delivering – this thriving office campus, just off
Founded 19 years ago by managing much-needed family homes to the the A3, has excellent road and rail links
director Peter Hunt, the 10-strong PNH region as the government looks to to the South Coast and London.”
team specialises in land assembly and
delivery for residential, commercial PNH’s commercial developments
and leisure developments. Under the include Passfield Business Centre
Peter Nicholas Homes brand, the firm near Liphook, Newhaven Industrial
has nine residential sites at different Park, Newhaven, East Sussex and
development stages and ranging in Castlegrove Business Park, Bognor,
size from 12 to 89 properties across West Sussex.
Hampshire, West Sussex and the Isle
of Wight. On the leisure side, the firm is involved
in Port Lucya Marketplace, a 9.5-acre
Peter said: “We are rapidly increasing waterside development in the Grand
our multi-family housing site portfolio, Bahamas - the largest shopping,
funded by a far-sighted mix of internal dining and entertainment open-air
funding, bank lending and private facility in the Bahamas.
investment finance.
PNH relocated 11 miles from Passfield
“With the same successful funding to Rotherbrook Court. Occupiers in the
formula, we also continue to grow vicinity include Handelsbanken, NFU,
our commercial property and leisure Vitality, Whitman Laboratories and
development portfolio both here in the Frazer-Nash Manufacturing.
UK and overseas.

11

Building 1 Buildings 2-4

Buildings 6-8

Office/Light Industrial Premises Airfield Road
For Sale or To Let Christchurch
Dorset
Location BH23 3TH

The premises are situated in a prominent location on the corner of Airfield Sizes:
Road and Airfield Way close to the A35, providing links to Southampton
and the national motorway network to the east. Christchurch town centre is 1,408 - 5,344 sq m
1.25 miles west of Airfield Industrial Estate and Bournemouth and Poole are (15,158 - 57,528 sq ft)
further to the west.
Tenure:
Description Long leasehold or Freehold

Building 1 Prices:
Building 1: £1,250,000
Industrial building with production space over ground and first floors, on a Buildings 2-4 and
site of 1.5 acres. The property has a ground floor open plan assembly unit, Buildings 6-8: £1,900,000
anti-static floor, suspended ceiling and roller shutter door access. The first
floor is separated into cellular offices, storerooms and a canteen with air-
conditioning. The property benefits from a good parking ratio in a secure car
park.

Building 2-4 and Building 6-8

2-4 Airfield and 6-8 Airfield were designed as terraced, two storey business
units. The buildings have multiple entrances, stairwells and service cores.

The properties are currently split into a mixture of cellular offices and open
plan office space. There is a high-tech lab area on both the ground floors,
with anti-static floor and high quality lighting. Both properties benefit from
a roller shutter door and air conditioning. The buildings sit on a site of 1.85
acres.

• Prominent location • Self contained units
• Secure parking • Strong trade links

EPC Rating Bands - Building 1: C/62, Buildings 2-4: C/65, Buildings 6-8: C/68, Building 15: C/68

Contact: Will Elgeti Tel: 023 8017 0748 [email protected]
Gary Jeffries Tel: 01329 222830 [email protected]
Joint Agent: Ashley Worne Tel: 020 3296 3000 [email protected]

12

Office Premises To Let Second Floor
Tagus House
Location Ocean Village
Southampton
Tagus House is located within Ocean Village, at the southern end of Hampshire
Central Southampton. To the east is Ocean Village Marina and the River SO14 3TJ
Itchen, and to the west, Southampton Western Docks and Southampton
Water/the River Test. Other occupiers in Ocean Village include BDO Size:
StoyHayward, Price Waterhouse, Barclays and Your Move. 431.62 sq m (4,646 sq ft)

Ocean Village is the waterfront location for Southampton with a mix Rent:
of office, residential and leisure facilities, including bars, restaurants, £19.50 per sq ft exclusive
café’s, convenience store, two cinemas and the newly opened
Southampton Harbour Hotel.

Description

Tagus House comprises a four storey purpose built office building
constructed in the mid 1990s, and provide good, regular shaped
and open plan floor plates. Internally, the space benefits from air-
conditioning, suspended ceilings with recessed light fittings, double
glazed powder coated aluminium framed windows and fully raised
access floors.

• Air conditioning • Fully raised access floors

• Double glazed windows • Passenger lift

• Suspended ceilings with recessed lighting

• Car parking ratio of 1:194 sq ft • Male and female WCs

EPC Rating Band - D/83

Contact:
Nik Cox Tel: 023 8065 9178 [email protected]

13

Two Storey Detached West Farm House
Period Office To Let Cams Estate
Fareham
Location Hampshire
Cams Estate is an established business park set in a beautifully PO16 8UP
landscaped environment within the grounds of the 18th Century Cams
Hall. Size:
Occupiers on the park include Serverhouse, Taylor Made Computer 308.71 sq m (3,323 sq ft)
Solutions, Wilkins Kennedy and Glanvilles Solicitors.
The Park offers excellent communication links to the M27 via J11 Rent:
together with the A3(M) and A27. £63,000 per annum exclusive

Description
This former farmhouse serving Cams Hall Estate offers unique stylish
period accommodation with a welcoming ground floor double height
reception area, large executive offices with tall ceilings and large sash
windows providing plenty of natural light, combined with an open plan
galleried wing, meeting modern office occupancy requirements.
There are ground floor toilets and kitchen. The property has its own car
park capable of parking approximately 10 cars. In addition, there are a
further 7 car spaces located a short walk away.
• 17 allocated car spaces
• Open plan with executive offices
• Quick motorway access

EPC Rating Band - C/73

Contact: Russell Mogridge
Tel: 01329 222832 [email protected]

14

HEadlines Relocation

Jobs boost as online customer
acquisition specialist expands

An online customer acquisition Chief Executive Matthew Milnes “The location is ideal – just off
service for the financial services said: “Our diligent and motivated junction 9 of the M27, with a
industry has relocated to larger customer service teams are involved superb employment pool across
headquarters within Hampshire. in 2,500 fresh enquiries a day, the conurbations of Southampton,
placing discerning customers to Portsmouth and Fareham, all within
Due to rapid growth, an initial 16 the best company which suits their commutable distance. LeadStream
new roles are being created at requirements, whether that is life has done well to secure larger Grade
LeadStream’s customer service insurance, stocks and shares or other A offices – they are in short supply
centre at St Andrews House, financial investments. across the Solent region.”
4400 Parkway, Solent Business
Park, Whiteley. The business, “We had outgrown our previous office WARM WELCOME: Outside the new
which employs 80 staff and and Hughes Ellard brought headquarters of LeadStream, at St Andrews
already has up to 60 working at St Andrews House to our attention – House, with customer service centre staff are,
any one time at the nationwide it ticked all the right boxes. We now front row from left, Amiri Construction director
call centre, outgrew nearby have plenty of room to grow the Mark Vincent, LeadStream’s internal recruitment
Arena Fareham. customer service centre and are well manager Adrian Maddock, LeadStream’s Chief
placed to diversify lead generation Operating Officer Michael Hubbard and Russell
In a deal through independent in both business-to-consumer and Mogridge, a Director at Hughes Ellard.
commercial property consultancy business-to-business markets.”
Hughes Ellard, LeadStream signed
a 10-year lease on the 9,006 sq ft Russell Mogridge, a Director at
detached office, at £15 per sq ft. Hughes Ellard, said: “LeadStream is
Hughes Ellard acted for the private an excellent example of a go-ahead
landlord of the two-storey premises. business which required quality office
headquarters from where to expand
staff numbers.

Searching for the right
commercial property?

Look no further than the Hughes Ellard Search &
Acquisition team.

Our team regularly advise clients on how to find the right property, often
tailoring an advanced search of properties off market and guiding them
through every step of the way, not only covering the pros & cons of the
property, but also the detailed lease negotiations or purchasing options.
This support often results in savings of thousands of pounds for our
clients, not just in rent or purchase price but in their valuable time.

To find out why we are so effective, call Russell Mogridge, Nik Cox,
Harnish Patel or Will Elgeti.

15

Modern Self Contained Carnac Lodge
Single Storey Office Building Carnac Court
To Let Cams Hall Estate
Fareham
Location Hampshire
PO16 8UJ
The property is located on the prestigious Cams Hall Estate,
conveniently located close to Junction 11 of the M27 and just off the Size:
A27 and set within award winning landscaping with 27 hole golf course 387.03 sq m (4,167 sq ft)
with large clubhouse and restaurant.
Rent:
Cams also benefits from Buffet Car café providing hot and cold food. £79,150 per annum exclusive
Cams Hall itself is a business centre providing conference room
facilities. The estate has a waterside footpath close to Fareham Creek.

Description

The property comprises a purpose built single storey office building
with excellent natural light with two elevations of floor to ceiling glazing
with sliding doors. Internally, the property has been refurbished with
new carpets and new decorations.

The building benefits from comfort cooling heating, fully access raised
floors, suspended ceilings and recessed light and a fitted kitchen.
Externally, there are 19 private allocated car parking spaces.

• 19 car spaces • Unique self contained building

• Comfort cooling • Fast broadband

EPC Rating Band - C/72

Contact: Russell Mogridge
Tel: 01329 222832 [email protected]

16

HEadlines Agile Working

Stay Agile to Thrive

By Nik Cox, Furthermore, businesses find of people’s lives is what matters
Director, a decrease in unscheduled most – not a working schedule filled
Hughes Ellard absences, resulting in increased with rigid routine and structure.
productivity. Many employees who
Agile Working has certainly call in sick do so because of family Furthermore, some experts
seen a rise in recent issues, personal needs and stress. have predicted an impact on the
years, driven largely by This is significantly reduced with increased demand for city centre
the advances in cloud and an Agile working approach as the located offices – providing flexible
mobile technology. Often relationship is much more open workers with a central meeting
confused with ‘Flexible and based on trust. It enables space where they can meet face-
Working’, Agile Working isn’t honest conversations about the to-face when necessary. Offices
just about working part-time employee’s circumstances and the located where public transport
or remotely, but looks at organisation’s needs – resulting in is convenient, with strong local
work as ‘tasks’, rather than a mutually respectful relationship. amenities are becoming even more
a physical destination you important for Agile businesses.
travel to five days a week. General employee satisfaction Commercial property trends are
with their complete package is seeing a decline in the desire for
“In an Agile environment, ‘work’ increased. Research confirms ‘office park’ type environments
becomes an activity rather than a that 36% of people would choose which soared in popularity 30 years
place,” explains Martyn Freeman, working from home over a pay ago, as they tend to have poorer
managing director of Mitie’s rise (a poll of 1,500 technology transport connections and often
facilities management business. professionals revealed that 37% higher rents. Research shows that
would take a pay cut of 10% if they Millennials now have less access
“Agile Working supports a much could work from home). Generation to their own transport (only 35% of
more collaborative way of doing Y are particularly attracted to under 20s have a car compared to
business and with the right flexible work arrangements (rating 43% 20 years ago), so an office that
technology, it gives people the among benefits as an 8 on a 10 can easily be accessed by train,
ability to work wherever they scale for impact on overall job bike or on foot will become more
happen to be and whenever it suits satisfaction). A typically hard group attractive to growing businesses –
them to do so.” to recruit, this way of working is enabling them to cast the net wider
becoming more attractive to these when it comes to offering an overall
Followers of the Agile way believe individuals who often place overall attractive recruitment package.
you can work anywhere with the job satisfaction above earning the
right technology, the right people most money. So as businesses want to grow
and the right environment. and attract new talent, it will
As Douglas Coupland, author of become increasingly challenging
This working approach enables Generation X, JPod and Microserfs if they aren’t prepared to accept
maximum flexibility and minimum explains: an Agile way of working and adapt
constraints – empowering their thinking as a recruiter. If it’s
businesses to enhance an “The nine-to-five is barbaric. I acceptable for the Millennials, it
individual’s performance and really believe that. I think one day must apply to everyone in the
deliver the best service for the we will look back at nine-to-five entire organisation. This will come
organisation. The benefits are employment in a similar way to as a welcome change for many,
many, including a reduction how we see child labour in the 19th who have been asking for a fresh
in attrition rates – where it is century,” approach since the universal use of
estimated that two-thirds of smartphones and the cloud really
employees would take another It is believed that in years to took off ten years ago. People
job to ease the commute or have come, the concept of the rigid who can multi-task using their
flexible working. 9-5 will become old fashioned smartphone are probably some of
and irrelevant, especially in a time the hardest working people your
when the ‘job for life’ is no longer business could employ.
something people crave. Job
satisfaction that fits in with the rest

17

HEadlines Capital Allowances

Commercial Property -
Don’t miss the capital
allowances opportunity

There are very few tax breaks • Plant and machinery (currently getting this right, can often result in
available for owners of or available at a rate of 18% pa) capital allowances being overlooked.
investors in UK commercial
property. Therefore, it comes • Integral features – such as What are the rules?
as a surprise that capital electrical and cold water systems,
allowances, a valuable lifts, air conditioning and many Changes to the capital
form of tax relief, are either other items commonly found in allowances rules on
under-claimed or not claimed commercial buildings. (since April second hand property
at all due to a lack of 2008 – currently available at a rate were introduced from
understanding or application of 8% pa) April 2012 and came into
of the legislation and case law full effect from April 2014.
governing the availability of Purchasing a commercial
the relief. property The rules can be quite complex but
in general terms to be able to claim
Capital allowances are If you are considering capital allowances under these rules
available for qualifying capital purchasing a commercial the following must be met:
expenditure incurred on property, or own a property
certain buildings, fixtures purchased in the past, 1. Fixed value
and chattels and attract then capital allowances The seller and purchase must
specific rates or amounts of may be available to you. The quantum agree the part of the purchase
tax relief, which can then be of the tax relief available is dependent price that is apportioned to fixtures
offset against taxable profits on the historic ownership of the in the building. This can be done
reducing your tax bill! property and not necessarily the either by entering into a joint
age of the building. The tax relief is election (a s198 CAA 2001 election)
There are certain hurdles very generous with up to 50% of the OR, by applying to the First-tier
that must be cleared before purchase price potentially qualifying tribunal to fix the value. Either way
capital allowances can be for it. (see general rule of thumb % this must be done within two years
claimed. However once these below). of the purchase.
conditions are satisfied,
then large percentages of In the last 10 years, there have been 2. Pooling requirement
the cost of a construction/ several changes to the legislation This rule applies since April 2014.
refurbishment/fit-out project, governing capital allowances It requires the seller to stipulate
or the acquisition cost of a on property transactions and that they have ‘pooled’ the
property, could attract the tax misunderstandings, or commercial expenditure on fixtures before the
relief. pressures to get the deal done, can property is sold, i.e. they must have
lead to missed relief. included the assets in their capital
What capital allowances allowances calculations where they
may be available? The answers provided to the normal qualified.
Commercial Property Standard
Since 2011 it is no longer possible Enquiries (CPSEs) are often insufficient If these are not met then HMRC
to claim capital allowances on the to determine the potential capital will deem the value of any fixtures
actual building or structural aspects allowances available to a purchaser. acquired to be nil so NO capital
of the property, e.g. floors, roof, The lawyers dealing with the purchase allowances can be claimed by the
walls. However capital allowances on may not to be in a position to purchaser.
commercial properties are still available review the responses from a capital
in a number of forms including: allowances perspective as this is a Words of warning
specialist technical area.
Normally, a purchaser
This together with the commercial will wish this value to
pressures ‘just to get the deal done’ be higher and the seller
and a lack of understanding as to the to be lower therefore it
potential value to the purchase of is strongly advisable to

18

HEadlines Capital Allowances

meet this requirement as part of the Capital allowances rules of thumb
sale negotiations and by way of a S198
election at the time of sale/purchase. The potential capital allowances available will depend on the facts in each case.
This provides certainty and is more However as a general rule of thumb and to provide a guide to the potential value
cost and time efficient. It is very in capital allowances to show why specialist advice should be sort please see the
difficult to agree this after the fact. table below.

Furthermore, if the above are not Acquisitions, disposals and construction projects*
met then not only with the current
purchase not be able to claim capital Property Type Acquisition / Disposal New Build/Refurb/
allowances on assets that exist at the
time of purchase, no future purchaser Qualifying % Fit-out Qualifying %
will either. In some cases this could
impact the future sale price. Office 15% - 30% 15% – 45%

Selling a commercial Office Refurb/Fit-out 40% - 100%
property
Retail 2% - 25% 5% - 40%
If you are the seller
rather than the Retail Refurb/Fit-out 40% - 90%
purchaser then you
should also ensure that Industrial 2% - 20% 5% - 25%
the above requirements
are met. If you do not fix the price Hotel 15% - 50% 15% - 50%
then HMRC could seek to argue that
balancing charges arise on the sale. Hotel Refurb/Fit-out 40% - 80%

Ensuring that you have detailed Furnished Holiday Let 15% - 25% 15% - 30%
supporting information for assets
that you have pooled and claimed * Figures provided by Chris Doyle of Yewell Consulting LLP. The exact percentage that
capital allowances on can assist with a would qualify will depend on the facts in each case the above is just a general rule of thumb
future sale as it will make it smoother as a guide.
and potentially more valuable for a
purchaser. Seek early advice

Construction, Capital allowances are an extremely valuable relief and can reduce your tax
refurbishment and fit-out liabilities substantially yet are often missed. Early and specialist advice is key and
projects the cost of obtaining this advice is normally greatly outweighed by the potential
tax savings. Miss these at your peril!
For these types of
project, if advice is For further information, please contact Lucy
taken early enough in Mangan, Director at Menzies LLP on 01784
the development cycle, 497100 or email [email protected]
it is possible to “design
in” capital allowances Menzies is a top 20 firm of accountants, finance and
tax relief, through the careful selection business advisors that operate out of a network
of construction components and of offices across Surrey, Hampshire and London,
wording of contract clauses. providing our clients with easy access and local knowledge. Described as
the ‘best performing firm outside of the top 10’ by Accountancy Magazine,
Getting advice early can greatly Menzies has over 400 employees and an annual turnover of more than £40m.
improve the quantum of capital
allowances due and also ensure that An award-winning firm, Menzies won ‘National Firm of the Year’ at the 2016
the appropriate documentation is British Accountancy Awards, ‘Best Tax Team’ at the 2017 Tolley Taxation
available to support the claim for the Awards and ‘Corporate Restructuring Firm of the Year’ at the Tri Awards 2017.
tax relief. Depending on the type of
project, between 30% and 90% of the Menzies offers a full range of services – tax, corporate finance, audit
expenditure incurred could qualify & compliance and business recovery, as well as strategic consultancy,
for the tax relief (see general rule of outsourced HR & FD support,
thumb). franchising and business valuations.

Visit www.menzies.co.uk
for more information.

19

ACCOUNTANCY | FINANCE | BUSINESS
menzies.co.uk

DISCOVER EFFECTIVE FINANCE AND BUSINESS
ADVISORY BUILT ON BETTER RELATIONSHIPS.
Contact our property and construction specialists at

[email protected].

16

HEadlines Industrial Occupier News

Demand for trade counters

A new trade counter near Portsmouth has been let through Hughes Ellard. With a quoting
rent of £10.17 a sq ft, the 2,064 sq ft unit is at Solent Trade Park, Solent Road, Havant.

There are eight newly-constructed, self-contained units at the trade park, each with fitted WCs, LED lighting, glazed
frontage and access through an electric loading door and the customer entrance.

With the latest letting, seven of the eight units are now occupied.

Harnish Patel, pictured, an associate director at Hughes Ellard, which covers the Solent
region, said: “There is strong demand for trade counters along the Solent Corridor,
including the A27, which is close to the Trade Park.

“These are excellent buildings. Each unit is of steel portal frame construction with a
combination of brickwork and profile-clad elevations. The pitched roof at the let unit
incorporates translucent panelling for extra light. Each unit has windows at ground and
first floor level, to suit mezzanine office development, if required. We are close to calling
‘full house’ on Solent Trade Park, with just one of the eight trade counters now available.”

Details of the occupier and landlord, as well as lease terms, remain private.

Vehicle workshop makes way for

new townhouses Jason Osborn, Driftstone’s land buyer,
said: “We are always actively seeking
Townhouses are to be built Phill Upshall, a family representative, land for development in Hampshire
on the site of a decades-old said: “Whilst this is the end of a and, through Hughes Ellard, became
motor vehicle workshop sold century-long era for the Upshall family, aware that the owners of 4 East Street
through Hughes Ellard in it will be a new one for families moving were looking to sell.
south Hampshire. into much-needed townhouses.
 “In honour of the Upshalls’ links, we
The sale marks the end of the century- “We are grateful to Russell at Hughes are looking to name the development
long family ownership of premises Ellard for sourcing a buyer and taking after the family. The townhouses will
and land at 4 East Street, Titchfield, away the stress that can come with be of high quality and enhance the
a village near Fareham with a history selling land and property.” look and feel of the area.”
stretching back 1,500 years.
The premises has been used as a According to government targets,
Planning permission has been granted vehicle workshop since the 1960s, 300,000 homes need to be built
for the demolition of the 3,390 sq ft when the average house price was each year if the national housing
property, located on 0.13 acres, and £2,530, a loaf of bread equivalent to shortage is to be solved; in the 2016/17
the development of three townhouses. 5p and professional footballers were financial year, 217,350 new homes were
paid a maximum wage of £50 a week. reportedly completed.
New owner Driftstone Homes,
a housebuilder headquartered
in Fareham, will construct the
townhouses once demolition is
completed.

Russell Mogridge, a director at Hughes
Ellard, which covers the Solent region,
said: “Knowing our extensive contacts
with residential and commercial
developers in the region, we were
approached by the Upshalls to find a
buyer through private treaty.

“This was a unique opportunity to NEW ERA: From left, Jason Osborn of Driftstone Homes, Phill Upshall and Russell Mogridge
purchase a rare site with fast road of commercial property consultancy Hughes Ellard.
connections to Fareham town centre,
Whiteley, which is home to the largest
business park of its kind on the central
South Coast, and the M27 corridor, via
junction 9 and 11, for Southampton and
Portsmouth.”

21

THE PHOENIX CENTRE

Calmore Industrial Estate, Totton, Southampton, SO40 3SA

TO LET
REFURBISHED INDUSTRIAL WAREHOUSE

WITH LARGE SECURE YARD

1,939.20 sq m (20,874 sq ft)

The unit provides clear open plan storage/workshop spaces
and benefits from the following features:

• Refurbished in Oct 2017 • Ancillary offices & WC’s

• 3 large loading doors • 4 miles from Southampton Docks

• 7.6m eaves • 1.7 miles to J2 M27 motorway &

• 21,538 sq ft secure yard 8 miles to M3 motorway

• Warehouse heating & lighting

HEadlines Retail Insights

Furnishings store unveiled

A home furnishings chain in the UK has opened up at a new
retail location in southern Hampshire. Ponden Home, part of
the Edinburgh Woollen Mill group, signed a lease on a 2,000 sq ft
unit at Hedge End Trade Park, Hedge End, near Southampton.

Hughes Ellard acted for the trade available. A two-week refit took place, for customers because of the easy
park’s landlord, Aberdeen Asset the landlord having first successfully access from the M27 corridor between
Management (AAM), acting on behalf acquired planning consent from trade Southampton and Portsmouth.”
of a client, in the deal. counter warehousing use to retail.”
The Edinburgh Woollen Mill group,
Ponden Home, which employs five It is the fourth unit on site that Hughes which traces its roots back to 1946,
staff on site and rebranded nationally Ellard, with offices in Southampton where it undertook the dying of yarn
from Rosebys, was previously at and Fareham, has secured for national on a contract basis before expanding
Bradbeers Retail Park, just up to road retailers. The others are American Golf, into retail in Edinburgh in 1970,
on Tollbar Way. Sliderobes and Hammonds. operates in more than 500 stores
across the UK.
Russell Mogridge is the business Products at Ponden Home, which
space director at Hughes Ellard, AAM’s also has a strong online shopping Ponden Home Hedge End is led by
agent for Hedge End Trade Park, which presence, include curtains, bed Leanne Fields, the manager of 16
is now fully occupied with the latest linen, bedding, cushions and home years, and Sandie King, the assistant
arrival. accessories. manager of 15 years.

He said: “Ponden Home had been Kevin Nock, Ponden Home’s area Britain’s home furnishings market
looking for nine months for suitable manager, said: “We have five dedicated value is forecast to reach £17.1 billion
premises with the business certainty staff at Ponden Home Hedge End, with in 2018, according to figures from
of a long lease, having traded a combined 51 years’ experience in the Euromonitor, a global market research
successfully at the nearby retail park home furnishings field, and they are company.
for 15 years as Rosebys then Ponden part of our fantastic ‘bricks-and-clicks’
Home. service to customers. Ponden Home represented itself in the
property deal.
“A rare opportunity emerged where “We were keen to remain in the
a corner unit unexpectedly became Hedge End area, which is convenient

Roadside

Retail
Roadside retail continues to
prove a popular sector for to planning for further Greggs units in to complementary retail occupiers,
developers and investors. The Gosport and Andover, both forming part industrial estates and/or residential
market has been active for a of wider developments. areas. In the event of the unit being
number of years now. Costa new build Greggs will commit to taking a
and Starbucks have been busy Greggs typically requires 1,000 to 1,250 10 year lease without a break. Rentals in
taking sites from the outset, sq ft of space in shell format. For a this sector have moved forward and can
but there is now an ever wider location to be considered it will need to range between £25 and £35 per sq ft.
variety of occupiers considering meet various criteria, most importantly
this format. a prominent/busy roadside position and For more information contact Tim Clark –
then other factors such as proximity [email protected]
Hughes Ellard has been busy acquiring
units on behalf of Greggs Plc along the 23
South Coast. Most recently, premises
have been acquired on Portsmouth
Retail Park, part of a scheme by Simon’s
Developments which also incorporates
Decathlon, Home Bargains, Pure
Gym, Subway and Costa. In addition,
contracts have been exchanged subject

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Please visit www.businessbankinginsight.co.uk.

Portsmouth branch Southampton branch

Phil Dedman - Branch Manager Andy Taylor - Branch Manager
M: 07816 225638 M: 07890 522537
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E: [email protected] E: [email protected]
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HEadlines MEES/Property Acquisition

Don’t MEES around

with new regulations
Nick Miles of Hughes Ellard.

Commercial property According to industry research, 20% of be made that pay for themselves in
landlords must ‘green’ commercial buildings could be in the energy savings within seven years.
any sub-standard worst-performing F and G brackets,
properties for leasing. contributing to greenhouse gas “However, landlords in breach of
emissions. MEES from April 1st face substantial
Landlords of commercial penalties, from £5,000 to £150,000.”
properties must bring any Nick Miles, as associate director, leads
energy-inefficient buildings Hughes Ellard’s building consultancy According to the Intergovernmental
up to scratch if they want arm. Panel on Climate Change, “the built
to let space. environment holds the greatest
He said: “Landlords and investors need opportunity for cost-effective
New ‘MEES’ rules come into force from to make remedial action a New Year’s emissions mitigation of any sector”.
April 1 2018, meaning a sub-standard resolution if they are serious about
property cannot be let, or a lease letting energy-inefficient commercial All buildings – commercial and
renewed, unless improvement works space after April 1st. residential – have Energy Performance
bring it up to an energy rating of E or Certificates (EPC), with A being the
above. “There are just weeks left to bring most energy efficient and G the worst
affected properties up to scratch.” for our environment.
MEES stands for Minimum Energy
Efficiency Standard regulations, He added: “The aim of MEES is laudable Part of Hughes Ellard’s building
introduced by the EU to help combat as government figures show that consultancy remit is to provide
global warming. commercial property contributes to just tailor-made energy efficiency
under a fifth of all UK carbon emissions. plans for landlords, including
EPC rating modelling based on
“From a financial point of view, landlords various improvements.
may not be hit as badly as they may
first think – improvements only need to

A guiding way through building
acquisition and ownership

Property acquisition can be We undertake building surveys • Dilapidations Advice - Helping
both costly and complex, independently or through the to untangle landlord and tenant
giving rise to financial and co-ordination of external consultants disputes at lease end
operational risk. where a multi-disciplinary approach is
required. This can include validation • Development Monitoring -
At Hughes Ellard, our tests to M+E services, below ground Safeguarding banking clients
experienced chartered drainage surveillance and materials providing finance for new
building surveyors assist testing. The findings are collated developments
clients through the into one report, giving you a fully
due diligence process, comprehensive account through a single • Project Management &
offering advice not only point of reference. Contract Administration -
on a building’s physical Helping achieve value for money
condition, but also on wider In this way, clients are able to identify through effective project delivery
considerations, including any emerging risk, enabling them
mechanical and electrical to make an informed decision on • Defect Analysis and Repairs
services, health & safety, proceeding with purchase – or use as a Advice - Applying technical
sustainability, legislation, negotiation tool. thinking to diagnose and resolve
occupational issues building defects
and future maintenance Our expertise covers:
requirements. • Reinstatement Cost
• Schedules of Condition – Helping Assessments for Insurance
to protect and limit future repair and Purposes - Helping accurately to
reinstatement liabilities at lease expiry estimate the cost of rebuilding.

25

HEadlines Improving Your Health

Plants Reduce Absenteeism

Now that I have your attention NASA was the first organisation to their own health more optimistically’
perhaps I should elaborate. I am study houseplants as a means of (Dr Bringslimark).
not a horticulturalist and will purifying air. Their study showed that
readily admit that I am no Alan plants filter out VOC’s from the air In addition, a study in 2010 by
Titchmarsh, but I was intrigued reducing Sick Building Syndrome. Dr Margaret Burchett found that plants
when I heard that sweeping reduced stress by as much as 50%
statement so decided to take a It is estimated that whereas in a control group with no
closer look. one plant can clean plants, stress levels rose by 20%.
around 30 sq m of air
We have all heard of Sick Building Plants also help reduce noise in an
Syndrome and no, it is not just the And so to the reduction in absenteeism. office environment. The body of the
Monday morning feeling carrying on In 2011, environmental psychology plant absorbs sounds as well as
until Friday. It does exist. Research has expert, Dr Tina Bringslimark of the deflecting noise. Plants can be used
shown that an office may be up to 10 Norwegian University of Life Sciences as a sound barrier.
times more polluted than the outside air. and Uppsala University, Sweden,
Not only are we breathing out carbon studied how pot plants in the office The Landscape Contractors of America
dioxide but toxins found in building affect employees. claim that ‘proper selection and
materials and other products can replacement of plants can lower heating
become concentrated inside modern Studies across 3 separate offices with and cooling costs by as much as 20%’.
sealed buildings. These toxins (Volatile differing amounts of greenery visible
Organic Compounds or VOC) can cause from workers desks found that the more So there you have it. Amazing what
headaches, runny nose, asthma, fatigue, plants (greenery) that workers could see a throw away comment can do to an
dry skin and dry throat. from their desks reduced the amount of inquisitive Facilities Manager at an
sick leave they took. FM event who is always interested in
So making sure the air conditioning and odd facts and figures. Want to know
fresh air supply work is paramount to An explanation taken from that study more or want a quick investigation
the office environment but plants can said that ‘people believe plants to be into other aspects of buildings and
play their part too. healthier and are likely to evaluate how they operate? Just ask Graham
Nash MBIFM at Hughes Ellard.

Cycle to Work?

That marmite moment. So what is the implication for increase in cycling is likely to be
Most of us can ride a the facility manager? greater than the projections given.
bicycle, but how many of We all want a cleaner and better
us really like to or want Providing bicycle racks is an easy environment but at what cost?
to? Especially to work? end game. But how many should be Greater cycle use places different
Are you a MAMIL (or provided? Cycling to work (or as a pressure on the end location.
equivalent)? leisure activity) causes more than
just needing somewhere to leave the If planning a Business Park, should
It is a simple statistic. According bicycle that is safe and secure: these be communal, after all the car
to the Department of Transport, park is generally provided centrally
bicycle traffic in the UK has risen • A drying room (it does rain in a business park, so why not
from 2.5 billion in 1993 to 3.5 occasionally in the UK after all). these items as well?
billion in 2016 (quoted recently in
FMWorld). • Cycling being a physical activity Can the building accommodate
means that a shower at the end any changes? If new build, then
So what are the implications for of the route (the place of work in a make sure the provision can be
building design and management commute) is a must. implemented.
as a result? The Government
wants even more cycle usage, for • Storage for other items – lockers for The Facilities (or Asset/Building)
example doubling the number of helmet/loose equipment or even your Manager, should have an input from
daily commutes into London from towel and shower cosmetics. day one. After all they will need to
155,000 in 2011 (latest census sort it out eventually!
figures) to double that by 2025. • All issues to consider and how to
This in part, is an attempt to relocate provision. It is beyond marmite and into the
reduce road congestion and also realms of building operation, design
better able to meet environmental Providing Central and Local and on-going regulations.
pollution levels going forward. Government facilitate more
A laudable aim. opportunities for cycling to work, as Want more advice? Hughes
opposed to just a leisure activity (road Ellard has a dedicated Facilities
use, cycle paths, etc.) and masterplans Manager. Just ask.
create better cycling routes, then the

26

HEadlines Current Property Listings

Property Town Tenure Sector Size (sq ft) Range (sq ft) Rent pa/ Price (£)
psf (£)
Vanbrugh House Hedge End To Let Offices 6,325 3,000 - 6,325 21
4500 Parkway Fareham To Let Offices 16
Langstone Technology Park Havant To Let Offices 5,237 14.5
Frobisher House Southampton To Let Offices 8.5
Norwich House Southampton To Let Offices 9,000 2,500 - 9,000 POA
The Connect Centre Portsmouth To Let Offices 12.5
Forum 4 Fareham To Let Offices 24,000 5,000 - 24,000 19.5
Forum 5 Fareham To Let Offices 19.5
9 Wellington Way Waterlooville To Let Retail 4,735 15,750
Palmerston Business Park Fareham To Let Warehouse & Industrial POA
12 The Montague Centre Worthing To Let Retail 40,000 300 - 6,000 45,000
Locks Heath Shopping Centre Southampton To Let Retail POA
Churchill Parade Rustington To Let Retail 25,257 7,963 - 25,257 POA
Chilcomb Park Winchester For Sale Offices POA
To Let 34,427 17,207 - 34,427
Fulcrum 6 & 7 Fareham For Sale Land & New Build
To Let 751
20A The Sovereign Centre Boscombe To Let Retail
The Teardrop Portsmouth For Sale Warehouse & Industrial, 2,296 470 - 2,296
To Let Land & New Build
1 Troon House Fareham Under Offices 1,375
Offer
The Sovereign Centre Boscombe To Let Retail 5,000 1,000 - 5,000
2 The Sovereign Centre Boscombe To Let Retail
3 Lancaster Court Fareham To Let Offices 2,500 500 - 2,500
5 The Sovereign Centre Boscombe To Let Retail
3 The Sovereign Centre Boscombe To Let Retail 89,000 10,000 - 89,000
Rams Walk Shopping Petersfield To Let Retail
Buckmore Park Petersfield To Let Offices, Retail, 70,000 14,000 - 70,000 POA
Warehouse & Industrial
Solent House Fareham To Let D1 (Medical/Education) 1,476 13000
1460 Parkway (Top Floor) Trade Counter/Showroom 100,000 20,000 - 100,000 POA
SU27-29 Meridian Centre Offices
248-250 White Hart Lane 1,735.1 25,500
Unit 3 Southdown View
Unit 14 St Georges Business 45,209 600 - 1,500 22,500
Centre 1,044 2,500 - 14,718
SU32B Meridian Centre 14,718 25,000
Suite 1 Port View One Port Way 612 500 - 2,000 25,000
100 Nest Business Park 1,128 2,000 - 9,000
200/250 Nest Business Park 2,000
9,000
Arena Business Centre
6,000 2,500 - 3,500 52,800

Havant To Let Offices, Retail 5,705 34,500
Fareham To Let Retail 898 15,000
Portsmouth To Let Retail
Portsmouth To Let Offices 3,012 12,000
523
7,000
Havant To Let Retail 620 6,000 - 7,000 17.5
Portsmouth To Let Offices 40,000
Havant To Let Offices 49,500
Havant To Let Offices, 3,947 70,000
Warehouse & Industrial 8,303
Fareham To Let Offices
3,000 140 - 3,000

27

HEadlines Current Property Listings

Property Town Tenure Sector Size (sq ft) Range (sq ft) Rent pa/ Price (£)
192 - 5,000 psf (£)
Arena Business Centre Southampton To Let Offices 5,000 9,270
Ground Floor, Unit 4 Fareham Under Offices, 927
Oaklands Business Centre Offer D1 (Medical/Education)
Whittington House Fareham To Let Offices, Retail 618 4,450 - 10,320 8,500
Faretec Fareham To Let Offices 785 471 - 1,692 17
16 Arundel Street Portsmouth To Let Retail 880 580 - 3,659
24 Arundel Street Portsmouth To Let Retail 664 25,000
Shore House Portsmouth To Let Offices 10,320 5,519 - 17,242 25,000
8a Carlton Crescent Southampton To Let Offices 1,211 1,000 - 3,000
SU25 Meridian Centre Havant To Let Retail 679 16
Centenary Quay Southampton To Let Retail, Leisure 3,659 11
Unit 4 Sovereign Centre Boscombe To Let Retail 948 5,000
10 The Montague Centre Worthing To Let Retail 1,160
34 Wellington Way Waterlooville To Let Retail 682 27,500
22 Kings Park House Southampton To Let Offices 4,252 42,500
Unit 87 (48 Thackeray Mall) Fareham To Let Retail, Restaurant 1,636 11,500
Unit 76 53 Osborn Mall Fareham To Let Retail 1,302
Unit 67-68 Westbury Mall Fareham To Let Retail 3,649 21
Charlotte Place Southampton To Let Offices 17,242
Furniss Business Centre Havant For Sale Warehouse & Industrial 1,500 15,000
To Let
To Let Offices 18.5
To Let Retail
Fusion - Solent Business Park Fareham To Let Offices 24,213 4,500 - 24,213 18.75
Units 1 & 2 The Montague Centre Worthing 2,834 150,000
Suite 26-32 Langstone Havant To Let Offices 2,354
Technology Park
Suite 26-17 Langstone Havant To Let Offices 4,711
Technology Park
Suite 26-27 Langstone Havant To Let Offices 3,193
Technology Park
Suite 26-30 Langstone Havant To Let Offices 3,233
Technology Park
Templar’s House Chandlers To Let Retail 10,959 5,312 - 10,959 18
Ford To Let Offices, Labs, R&D
Unit 69 Westbury Mall Fareham To Let Retail 1,281 20
Ground Floor 2000 Lakeside Portsmouth To Let Retail 36,682 10,000 - 36,682 30,000
Unit 1 Zurich House Portsmouth To Let Offices
Fareham Shopping Centre Fareham 2,006
Modern Offices - Fareham To Let Offices 10,473 1,636 - 10,473
Arena Business Centre 3,850
1000/4N Langstone Technology Havant To Let Offices
Park 3,307
1000/4SW Langstone Havant To Let Retail
Technology Park To Let Retail 6,068
Brewery Square Dorchester
160B Southampton Road Fareham 170,000 657 - 4,127
11,009
165,000

28

HEadlines Current Property Listings

Property Town Tenure Sector Size (sq ft) Range (sq ft) Rent pa/ Price (£)
psf (£)
Unit 26 (1 Westbury Mall) Fareham To Let Retail 1,668 45,000
Building 50 (Unit 1) Havant To Let Warehouse & Industrial 5,165 32,500
Southmoor Lane
The Montague Quarter Worthing To Let Retail 8,160 1,640 - 8,160
Port Solent Portsmouth To Let Retail, Leisure 1,000 - 4,000
97-99 West Street Fareham For Sale Retail, Investments 8706
Unit 15 St Georges Business Portsmouth To Let Offices 469 1,350,000
Centre 12,000
Belvedere Point, Havant To Let Offices
1a Alexandria Park Warehouse & Industrial 5,328 50,000
Berewood - Phase 1 Waterlooville To Let Warehouse & Industrial
Land & New Build 200,000 10,000 - 200,000
Under Offices
Norman House Portsmouth Offer 1,919 285 - 1,919 10.5
For Sale Warehouse & Industrial
15 Havant Business Centre Havant To Let Offices 1,302 150,000
Suite C 8th Floor Connect Centre Portsmouth To Let Offices 571
Suite D 8th Floor Connect Centre Portsmouth To Let Retail 390 12.5
95a London Road Waterlooville To Let Retail
99 - 101 London Road Waterlooville To Let Offices, Retail 1,547 40,000
Storehouse No 9 Portsmouth 2,823 62,500
Portsmouth Dockyard To Let Offices 22,162
The Quay Southampton To Let Offices 2,261 - 22,162
Second Floor, Oakmount House Eastleigh Under Warehouse & Industrial
Unit 43 City Industrial Park Southampton Offer 4,299 20
To Let Offices 1,800 25,200
To Let Warehouse & Industrial 5,375 48,375
To Let Offices
Brunswick Gate (First Floor) Southampton To Let Offices 12,138 6,909 - 12,138 21
B1 Mountbatten Business Park Portsmouth 2,659 17,878 - 3,223 12,000
1 Dorset Street Southampton To Let Offices - fully serviced 3,223
Ground Floor 1 Quayside Fareham 1,388
Commerce Centre Under Retail
Pure Offices, Port View, Portsmouth Offer 993 130 - 993
Port Solent To Let Leisure
29 Marmion Road Southsea To Let Retail 1,084 25,000

Unit 40 The Boardwalk Portsmouth To Let Retail 4,589 100,000
49/49A (63 West Street) Fareham To Let Offices 2,162 45,000
Fareham Shopping Centre To Let Offices
East Street/Lime Street Southampton 4,824 5,000 - 10,000 60,632
Building 3600 The Solent Centre Fareham To Let Offices 8,248 1,007 - 4,824 107,200
Second Floor, Building 3500, Fareham
The Solent Centre To Let Offices 6,267 81,471
Part Second Floor, Building Fareham
3500, The Solent Centre To Let Offices 1,979 27,727
Part Second Floor (B), Building Fareham
3500, The Solent Centre To Let Offices 3,073 40,000
First Floor Suite 2, Building 3500, Fareham
The Solent Centre 4,646 19.5
Tagus House Southampton

29

HEadlines Current Property Listings

Property Town Tenure Sector Size (sq ft) Range (sq ft) Rent pa/ Price (£)
psf (£)
3 & 4 Delta Business Park Fareham To Let Offices 1,098 504 - 1098 12,000
Mayfield Road Southampton Under Retail 2,180 1,085 - 2,180 45,000
Southampton Offer
Office 1, Ariadne House, Southampton To Let Offices 3,283 68,943
Town Quay Southampton
Office 2, Ariadne House, Southampton To Let Offices 2,913 61,173
Town Quay Waterlooville
Offices ABC, Beresford House, To Let Offices 3,542 65,527
Town Quay
Britannia Chambers South, Town To Let Offices 2,288 41,184
Quay
Berewood - Development Site SOLD Warehouse & Industrial, 35 acres
Land & New Build
6A Sovereign Shopping Centre Boscombe To Let Retail 318 15,000
Waterside Place - First Floor, Southampton To Let Offices 4,276
5 Town Quay
RU12 Centenary Quay Southampton To Let Retail 957
RU2 Centenary Quay Southampton To Let Retail
104 The Hornet Chichester To Let Offices, Retail 6,150 75,000
8 Market Road Chichester To Let Retail 648 23,500
Unit 27 Palmerston Business Fareham To Let Warehouse & Industrial 16,500
Park 2,296
Second Floor South Suite Offices
Anglo City House Southampton To Let 1,927 29,000
Wellington Gate (Ground Floor Offices
Unit D) Waterlooville To Let 7,500 80,000
South Building Chilcomb Park Offices
60-64 Church Walk - Winchester To Let Offices 20,943 7,063 - 20,943 25
First Floor Office Burgess Hill To Let 8,000 1,300 - 8,000 13.75
Ground Floor Bramble House Offices
Offices - The Martlets Fareham To Let Offices 1,363 350 - 1,050 19,082
Aztec House Burgess Hill To Let Warehouse & Industrial 1,050 13.75
Fareham Under 2,595
3-6 The Quarterdeck Offer Offices 20,750
Former PDSA Surgery Portsmouth To Let D1 (Medical / Education)
62 Middle Street Southsea Under 2,815 42,225
14 Pope Street Brewery Square Offer Retail 2,372
Blendworth Depot Dorchester To Let Warehouse & Industrial 250,000
Blendworth Lane Waterlooville To Let
Suite C 8a Carlton Crescent Offices 2,057 15,500
10 Cumberland Place Offices 2,105
Retail Unit - 3600 Parkway, Offices, Retail 8,660
The Solent Centre Southampton To Let 868 1,007 - 2,033 48,000
12 Churchill Parade Southampton To Let Retail 4,024
Residual Site - Furniss Way Whiteley To Let Open Storage Land, 2,033 17.5
D1 (Medical / Education),
Rustington To Let Land & New Build 1,341 2,500 - 5,000
Hayling Island To Let Offices 5,000
Offices
Hyde Abbey House, Hyde Street Winchester To Let 6,316 160,000
Willis House Willis Road Portsmouth To Let 2,334
676 - 2,334

30

HEadlines Current Property Listings

Property Town Tenure Sector Size (sq ft) Range (sq ft) Rent pa/ Price (£)
psf (£)
8 Old Railway Station, Gosport Gosport To Let Offices 484 985 - 8,722
Director General’s House Southampton Under Offer Offices 8,722 16
Rockstone Place, Southampton
Suite 201 Top Floor Portsmouth To Let Offices 2,525 21
3000 Lakeside, Portsmouth
29A The Sovereign Centre Bournemouth To Let Retail 1,430 42,500
A1 Portfield Industrial Estate Portsmouth To Let Warehouse & Industrial 6,222 59,500
The New Stables Fareham LET Offices - ground floor 2,852 38,500
First Floor Suite 1, Building 3500, Fareham To Let Offices 1,823 23,700
The Solent Centre
Hawksmoor House, Hedge End To Let Offices 16,280 7,730 - 16,280
Botleigh Grange Office Campus
One Olive One Lime Fareham SOLD Office - development site 55,900 25,320 - 55,900 20
Unit 5 Sopwith Park Fareham Under Offer Warehouse & Industrial 20,285 17,385 - 20,285 138,000
Cromwell House Winchester Under Offer Offices
119 & 120-122 High Street Southampton For Sale Offices, Warehouse & 6,344 2,846 - 6,344 1,700,000
Industrial, Residential, 0.5 acres
Unit 1 Marshlands Road Portsmouth To Let Leisure, Land & New Build
First Floor Unit 15 Fulcrum 2 Fareham To Let Warehouse & Industrial 2,116 16,950
Fareham Industrial Park Unit 39 Fareham Under Offer Offices 3,130 46,950
8a Rotherbrook Court Petersfield LET Warehouse & Industrial 12,762
Unit B Mapmakers Southampton Under Offer Offices 2,648 6.5
First Floor 4 Belfry House Fareham To Let Retail 1,876 39,750
160 Ordnance Business Park Gosport Under Offer Offices 1,266
Former St John Ambulance Hall Lee-on-Solent Under Offer Warehouse & Industrial 2,845 16,500
119 & 120-122 High Street Southampton Under Offer Investments, Residential 1,069
Offices, Warehouse 0.5 acres 265,000
The New Stables Fareham Under Offer & Industrial, Leisure, 150,000
Suite 2 Crescent House Eastleigh Under Offer Residential
11 Queensway Southampton Under Offer Offices 2,852 Let for 260,000
Offices 372 2 years
Unit 16 Dean Farm Estate Fareham Under Offer Offices, Residential, £19,000
The Bothy, Cams Hall Estate Fareham Under Offer Land & New Build 0.18 acres
10 Rotherbrook Court Petersfield For Sale Offices pax
Offices 8,887
Office investment 2,277
1,376

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to letT -wo1,o0ff0&i0cDeastvqsio fueitR steeT&a5slu20rrL0einf%0emer0naioAs&ndqiwvCfinltoceg.te
Modern Office Building - For Sale/To Let
1,000 - 5,960 sq ft

Compass House is located within the popular and established South Point
Business Park, home of the Royal Yachting Association headquarters,
near the shore of Southampton Water.

Waterfront location close to Southampton
Comfort cooling & heating
Structured network cabling to perimeter trunking
Male, female & disabled toilets
Suspended ceilings and recessed lighting
25 allocated car parking spaces

26 Compass Point i Ensign Way i Hamble-le-Rice i Southampton i SO31 4RF