5:30pm Wednesday 15th February 2012 in News
A NEW business park is set for Hampshire on a previously unoccupied site.
Real estate advisors Hughes Ellard and Lambert Smith Hampton (LSH) have been appointed to market a five-acre site at Chilcomb Park, Chilcomb, near Winchester for office development.
London-based residential and commercial property developer Cavendish Gloucester (CG) Plc, a figure in the Hampshire commercial property market, has the go-ahead as owner-developer to design and build the 89,000 sq ft (8,268 sq m) business park subject to pre-letting agreements from interested occupiers.
The five-acre site, dating back to the 1980s, has lain empty since 2004, last used by fashion chain Pilot as a headquarters and distribution centre.
Russell Mogridge, the business space director for Hughes Ellard, which has offices in Southampton and Fareham, said: “Chilcomb Park would provide much-needed commercial space on the eastern outskirts of Winchester, helping with economic prosperity and enhancing a site which was previously used for commercial purposes but has been unoccupied for seven years now.”
He said he was anticipating interest from corporate businesses, particularly given Chilcomb Park’s location close to junctions nine and 10 of the M3 motorway and away from the congestion of Winchester.
“With several notable exceptions, the city centre also lacks the top-end business accommodation required by larger companies with bigger budgets and higher staff expectations,” he added.
“Chilcomb Park, in contrast, would tick all the right relocation boxes.”
Steve Williams, associate director in LSH’s south coast agency team, said there had been an increase in office take last year compared to 2010, which marked an improvement in commercial confidence as the country continues its economic recovery.
He said that through pro-active marketing they hoped to capitalise on the upturn.
Mr Williams added that the finished development was expected to get a BREEAM excellent for its environmental and sustainability credentials, making it if successful the first estate in the region to achieve this.
CG’s developments in Hampshire include the new 17,000 sq ft (1,579 sq m) office block adjacent to Southampton Parkway railway station and the airport, which was let to HSBC Bank as a regional headquarters, and offices of 9,000 sq ft (836 sq m) at Millbrook, Southampton, let to Multitrax Management Services.
Its current portfolio consists of more than 20 projects with an end value of 100m.
For more details contact Russell Mogridge at Hughes Ellard on 01329 220033 or email RMogridge@hughesellard.com or Steve Williams at LSH on 023 8033 0041 or firstname.lastname@example.org.