industrial logistics commercial property

News - 03/12/2018

Quality industrial scheme on cards for M27 Corridor

A high-quality industrial scheme that is set to bring a significant employment boost is being proposed for one of the South’s leading business parks at Whiteley.

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Kier Property, the development arm of Kier Group, has acquired a three-acre employment site through its Logistics City brand.

Joint agents for the scheme, Vail Williams and Lambert Smith Hampton, have been appointed by Kier to seek expressions of interest from occupiers looking to lease units, from 10,000 sq ft to 60,000 sq ft. The prime site, to be called Logistic City, Whiteley, is located just off Junction 9 of the M27 and is expected to attract significant interest due to its strategic location between Southampton and Portsmouth.

Russell Mogridge, who leads business space for Vail Williams in the Solent region, said: “High-quality industrial schemes in prime locations, such as Solent Business Park, are very much in demand from businesses because there is so little supply.

“We anticipate early expressions of interest from owner occupiers, large and small, from national distribution chains to small start-ups.

“This is a speculative scheme, with a planning application likely to be submitted within the next few months.

“Units from 10,000 sq ft are much sought after, including companies with a strong balance sheet looking to invest profits through purchasing their own properties.”

Dan Rawlings, a Senior Surveyor for the South Coast team of Lambert Smith Hampton, said:

“Solent Business Park is one of the South’s leading business parks and this scheme builds on that success. The demand has never been greater and we’re expecting businesses of all sizes to see this as an opportunity to acquire high-quality space in a strategic location.

“The enduring demand for prime business and industrial units along the M27 corridor underlines the strength of the South Coast economy and I’m pleased that this scheme will bring further jobs to the region.”

Southampton-based Allied Developments sold the parcel of land at Whiteley to Kier Property for its Logistics City brand and builds on the success of previous industrial schemes by Kier across the UK, having delivered move than 5 million sq ft of industrial space.

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