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M27 industrial market overview
Business space Director, Robin Dickens reports that industrial enquiries are at a higher level than this time last year. There remains strong demand for freeholds under 5,000 sq ft from owner-occupiers with very limited stock available, which is likely to drive capital values in excess of �100 per sq ft.
The demand for institutional products remains slow, particularly in the 20,000 to 35,000 sq ft range, although Young & Butt have contributed to the larger speculative lettings in recent months. Plastimo UK Ltd have leased 38,000 sq ft at Hamilton Business Park, Hedge End and Target Distribution have taken a new 30,000 sq ft unit at Morley/Easter Management�s Kites Croft scheme, both at a headline rent of �6.50 per sq ft.
Young & Butt have been involved in what is likely to be the largest deal of the year. Exact details of the letting to cosmetics manufacturers, Estee Lauder, at Segensworth are confidential, although generally the market is aware of the pre-let of a 200,000 sq ft warehouse and office facility.
In the local occupier market, Young & Butt are involved with new industrial schemes at Heritage Business Park, Gosport, Falcon Court, Denmead and Knowle Village Business Park at Wickham, all of which are under construction and will provide much needed modern accommodation to local businesses. Following the sale of 7.5 acres to Rokeagle at Concorde Way, Segensworth North, Young & Butt will be offering a number of speculative units and design and build opportunities to the market at a new scheme called Delta Park.
For futher information on this story, contact:
Contact: Robin Dickens
Tel: 01489 579579
Web: http://www.yandb.co.uk
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