Latest commercial property news from Lambert Smith Hampton

LSH deal paves the way for major Southampton regeneration project

23/11/2015

Lambert Smith Hampton has acquired a long term lease on a 26,000 sq ft unit at Nursling Industrial Estate in Southampton on behalf of Total Produce Ltd, facilitating a move from its existing fruit market site, which is the focus of exciting regeneration plans.

LSH was appointed by Total Produce to find new premises for the company after the fresh produce provider was forced to relocate in order to facilitate the important redevelopment of Southampton’s city centre fruit market. The old market premises are set to be replaced by a £60 million scheme, comprising 300 apartments and a range of news shops, after councillors approved plans in March. The ambitious plan to transform the Old Town site is one of a number of major schemes aimed at rejuvenating Southampton city centre.

In addition to providing strategic acquisition advice, LSH has also been instructed on a project management basis to oversee necessary refurbishment works at Total Produce’s new premises at Nursling Industrial Estate. The works will allow the company to expand its operations and are expected to conclude in time for Total Produce to be operational by early 2016.

The Oriana Way site comprises a clear span steel portal frame warehouse in addition to cellular and open plan office space and has been let on a ten year lease, including a nine month rent free period.
 
Adrian Whitfield, industrial and logistics director at LSH, explains: "We conducted a comprehensive search for Total Produce having received a detailed brief of their operational and financial requirements. The task was made that much harder by the shortage of suitable warehouses available within their preferred search area and we were delighted to secure such a high quality refurbished building within such a tight timescale."



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Adrian Whitfield
Director - Industrial

023 8071 3073

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