Waterstone Marine Facility

News - 22/04/2024

Substantial site sold in Southampton with subsequent Hedge End acquisition

The sale sets the stage for Oil Spill Response Limited's strategic relocation to Hedge End.

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Our Industrial & Logistics team has successfully facilitated the sale of the Waterfront Marine Facility on Lower William Street in Southampton. The sale comes as Oil Spill Response Limited (OSRL) aims to optimise operations and enhance the working environment for Southampton based staff, prompting the need for relocation to a more fitting premises.

The facility consists of 3.19 acres with a mixture of office, industrial and warehouse space totalling 83,073 sq ft with water access.

The site was sold to MDL Marina with a leaseback arrangement secured, allowing OSRL for a managed transition to its new premises when it is ready for use, providing a more suitable environment to act as a regional hub and fulfil the firm's business needs.

Subsequently our team guided OSRL in the acquisition of Unit 2 at Strategic Park, Hedge End. Strategic Park consists of 58,419 sq ft of refurbished high-quality distribution unit with newly fitted EV charging points and Solar PV roof panels, situated on a secure and private estate with convenient access to major transport routes such as the J7, M27.

Lambert Smith Hampton represented Oil Spill Response Limited in facilitating the sale and in the acquisition of Unit 2 at Strategic Park

Dan Rawlings, Head of South East Industrial & Logistics, said: “It was a great team effort to advise OSRL through our I&L team advising and negotiating in various capacities. Securing a sale of this stature in the current market, with the process withstanding multiple turbulent economic factors throughout marketing, was a great achievement on our team’s behalf.”

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