The commercial area in and around Marchwood continues to develop as one of Southampton’s most successful industrial regions, despite the refusal of ABP’s Dibden Bay development.
James Prowse, associate at Southampton property specialists Chesterton, explains: “The area benefits from high occupancy, and a very successful business community. While Marchwood was built upon heavier industry in the past, there has been a growing demand in recent years – especially for large, versatile, clean units, which are few and far between in the Southampton area generally.”
Chesterton has been instructed to market three light industrial units on Cracknore Industrial Park, and Prowse expects to receive “a great deal of interest” in them.
The newly-built warehouse units, which were completed in December 2004, are situated in Harbour Close which leads off Cracknore Hard Lane and lies adjacent to Marchwood Military Port.
The industrial park is on the former Husband Shipyard site, at the head of the A326 to Hythe and Fawley, and already contains Discovery Yachts, Ocean Joinery and Ocean Laminates.
The steel-framed warehouses are ideal for a wide range of industries, such as storage, logistics, distribution or boat building, as they benefit from eaves over 6m high, have extra wide electric doors and outstanding gable end loading. All the units have their own car parking spaces, and have been designed to allow mezzanine floors or additional offices to be added.
Unit 2 has a 180sq m warehouse plus ground and first floor offices totalling 272sq m; Unit 3’s warehouse measures 237sq m; and Unit 4 is 346sq m. The units are available on flexible terms at £6.75 per sq ft, exclusive of rates and VAT.
Redman Heenan Properties, the investment subsidiary of St Modwen Properties, has bought an industrial/warehousing complex on a 20-acre site at Hadley Park, Telford, as part of St Modwen’s strategy of acquiring a hopper of substantial properties. The complex, within two miles of the M54’s J6 was bought from Mitutoyo (UK) for £2.25M. The existing buildings are immediately available to let as a 5,464sq m distribution / production facility.
ACR Logistics is occupying a 9,290sq m warehouse on the Marchington Industrial Estate, near Uttoxeter, for storage and distribution purposes. This latest short-term letting follows the letting of almost 9,290sq m to two companies last autumn. Evans Property Group operates an ongoing programme of refurbishing the large warehouses on the 70-acre site within the A50 corridor. Current occupiers at Marchington include TDG and Hellmann Logistics.
Prudential has bought the freehold interest of the Vauxhall Distribution Unit, Kimpton Road, Luton from Henderson Global Investors. The 8,770sq m property is let to Vauxhall Motors on a lease expiring in June 2006 at a passing rent of £683,269 a year and was bought for nearly £7.5M, reflecting a net initial yield of 8.67%. Holley Blake acted for Henderson and DTZ acted for Prudential.