Bournemouth, Poole and Christchurch

Something for everyone
The Bournemouth, Poole and Christchurch conurbation offers something for everyone in this months review, with offices, industrial and R&D space all on offer.

BOURNEMOUTH
Cowling & West find themselves in an unusual situation where they are able to offer a complete variety of office buildings in a single area having been recently instructed separately by the National Air Traffic Services by a Discretionary Trust and by Tangent Enterprises Ltd.

Availability has arisen through surplus office space, opportunities for new leases and through quality barn conversions in three separate locations.

Firstly, offices and business space including R & D, laboratory or bench assembly uses are available within a two storey building at the Southern Sector adjacent to the Airport Terminal on flexible terms. Sizes range from suites of 2,600 sq ft upwards to a total of 34,850 sq ft throughout various wings of the building which can be readily divided into parts or combinations to offer more choice. The Site enjoys extensive car parking and provides a secure working environment.

Details of occupational costs which will be inclusive of rent, rates and service charge are available on request through Simon West or Paul Donohoe of Cowling & West.

Secondly, Parley Court Barns which has seen a high quality prestigious office refurbishment within a Listed Building environment, rests in a unique setting adjacent to the Airport.

An original development fund aided by Dorset Rural Renaissance Partnership now has two individual office buildings available at 3 & 5 The Granary with a choice of either 825 sq ft or 1,070 sq ft of space either by way of compartmental or open plans space respectively. New lease terms are sought and rents are available on application.

The Parley Court Barns complex which has the major benefit of a one to one contention on broadband high speed connectivity is in a desirable rural location.

Cowling & West are also newly instructed on The Barns at Longham Farm Close, Ringwood Road, west of Parley Cross Roads which is also close to the Airport. A high quality barn conversion is taking place to provide prestigious office space in a unique setting adjacent to Dudsbury Golf Course.

The Byre and The Granary are currently available to let as individual units or as a combination to provide either 751, 877, or 1,628 sq ft if combined, whereas the Haymow, comprising some 746 sq ft, has been pre-let prior to build completion of the development. Rents at Longham range from £9,000 to £19,500 pax of rates and service charge.

The properties themselves are incorporated within a mixed development of three office suites with four high quality residential properties to the rear. The offices have the benefit of four car parking spaces per suite, some on forecourt paviours and others within an undercroft building. There are mezzanine floors incorporating some original beam features and gas under floor heating provides further benefit to the discerning tenant.

Paul Donohoe of Cowling & West comments that "the area around Parley Cross incorporating the Airport through to Longham has always proven popular with those seeking out of town accommodation or space at or close to the Airport itself because of the obvious benefits of location and easy access to the A31, east and west, and the motorway network connections".

POOLE
"Activity levels were much higher in July than expected with the same number of deals being agreed as in July 2008," reports Chris Wilson of Goadsby.

"Demand from new businesses is particularly good since start up costs are probably the lowest they have been for many, many years. Most landlords are able to offer substantial rent free periods at the start of the lease and regular break options allow tenants to easily move to larger premises with little hassle or cost if their company grows as expected.

There have been some good new instructions including 19,170- 38,320 sq ft to let at Fleets Corner in Poole at £4.50 psf and a superb 9,010 sq ft detached building at The Fulcrum which is available at £7 psf. Recovery House has unexpectedly come back to the market and offers 14,308 sq ft with a large yard and is to let at only £6.50 psf.

A number of speculative developments are continuing to see success with two further units having been agreed at Cirrus Court at the Airport which leaves only 40% of the scheme now available. All of the small 1,058 sq ft units at The Concept Centre, Tower Park, Poole have now been taken and all either at their quoting prices of £150 psf or the quoting rental of £10.40 psf.

The last unit at Virage Business Park in Poole being 1,700 sq ft has gone under offer and there are only four out of the original 14 units left at Broadstone Way Trade Centre, Poole with its 10% trade counter consent, main road frontage and rentals of £10.75 psf. The landlord of the two 12,000 sq ft brand new units at Black Moor Business Park in Verwood are able to offer up to nine months rent free period with quoting rentals of £7/£7.25 psf.

The developer of Parkway Farm Business Park at Poundbury in Dorchester has now achieved a wider planning consent on the 10 units ranging from 1,615 sq ft to 16,554 sq ft. Light and heavy industrial uses are now permitted as well as office and warehousing on part, rents/prices reflect £7/£115 psf and four units are under offer.

The refurbishment of Holland Business Park in Blandford has now been completed and offers 12 superb re-clad and re-roofed units from 965 to 14,120 sq ft. Rentals are typically around £6.50 psf for the smaller units, however the large 14,120 sq ft two storey building is only £2.37 psf.

In general, confidence levels are continuing to improve and developers are starting to consider new speculative developments on their existing sites or alternatively look at acquiring new sites, particularly where price levels have dropped to a level capable of delivering adequate profit.

Demand for freeholds is improving, particularly for small units and primarily from owner occupiers and to a lessor extent investors."
Developers and agents have toasted the launch of what has been described as the best office accommodation available across Bournemouth or Poole.

More than 50% of Link House in West Street, Poole, has now been successfully let after the transformation of tired and run down offices into a landmark site.

Merlin Entertainments Group, the world's second largest visitor attraction company, has taken 9,225 sq ft after moving its global Head Office operations to the second floor.

In addition, Synergy Housing Group, one of the largest social housing providers in the Wessex region, has taken the third floor, again occupying just over 9,000 sq ft.

Clark Estates acquired Link House, best known as the home of former advertising publication 'Exchange & Mart', in 2007.
The five-storey building has undergone extensive refurbishment creating a high spec 'as new' flagship office development.

Addressing more than 50 invited guests at the official launch, Chris Nettleship, of joint agents Nettleship Sawyer, said: "Clark Estates has every reason to be proud of what has been achieved."

He added: "In my opinion, the quality of office accommodation offered at Link House is unparalleled in the Bournemouth and Poole conurbation."

Link House comprises 35,555 sq ft (net internal area) on the ground and four upper floors, with 118 designated car parking spaces and 17,096 sq ft of office space remains available. The building has commanding views over Poole and the nearby harbour. Bournemouth-based Nettleship Sawyer, and the Southampton office of CB Richard Ellis are acting as joint letting agents.

Graham Thorne of Thornes Commercial reports: "We dealing with property in Poole, Bournemouth, and east Dorset and can report that our Poole office has experienced an upturn in interest in industrial, office, and investment property over the last three months with prices of freeholds and leaseholds stabilising after the last two years.

We presently have a number of interesting properties available whilst deals recently arranged include a former coastguard building in Swanage a ground floor office unit on the Nuffield Trading estate, a freehold investment of a car showroom and flats in Southbourne and letting of shops in Ashley Road Parkstone.

The agents report they have a number of cash prospective purchasers looking for property to invest in either for their own occupation or investment and with interest rates at the present historically low levels property does present a long term and reliable rate of return."

Back to South Features September 2009

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