Successful year for industrial/warehouse lettings on south coast25th June 2013

The Industrial Property Investment Fund (IPIF) owns 123 Commercial Estates across the UK, of which nine estates are located along the M27 and M3 corridor totalling some 1,400,000 sq ft of warehouse and industrial property. The specialist industrial fund has had a very successful first half of 2013 with a number of significant lettings across the south coast.

In June 2013 the Fund secured the letting of Unit 7 Barton Park Industrial Estate, Eastleigh through its agents Jones Lang LaSalle and CBRE. The 60,322 sq ft industrial unit has a 1.2 acre yard and was let to Imperial Cars who currently occupy four sites along the M27/M3 corridor. The Fund will shortly be bringing Unit 6 North to the market, which comprises 27,490 sq ft of industrial/warehouse space.

Other ownerships along the south coast include Matrix Park at Segensworth. The estate totals 14 units of which 11 are currently let, Unit 9 is under offer and a further two units of 12,389 and 16,425 sq ft remaining available. The estate has an open B1, B2 & B8 planning consent and can be used 24 hours a day, 365 days of the year.

IPIF also owns the Millbrook Industrial Estate located on Third Avenue, close to Southampton Docks and trade counter users Topps Tiles, Plumb Centre and Screwfix with other major occupier including Toyota Car Dealership and Access Self Storage. The estate is highly visible from Millbrook Road, which is one of the main arterial links between Southampton city centre and the M271 and M27 motorways. There are currently two available units each of 5,500 sq ft which can be combined.

In Winchester IPIF owns Sun Valley Business Park, which comprises 12 industrial/business units constructed in the early 1980s and late 1990s, Jones Lang LaSalle recently completed lettings of Units 8 and 9 to Apem Components Ltd and Unit 1 (3,155 sq ft) is currently under offer. Three further units remain available to let from 3,047 sq ft to 9,298 sq ft, or may sell.

Unit E Deacon Trading Estate, Eastleigh, totalling 6,007 sq ft with a large yard, has recently been let to Rinus Roofing Supplies Ltd. A further four units remain available from 4,948 sq ft to 17,261 sq ft. All the units have been refurbished to a similarly high specification.

Matthew Poplett, Head of Industrial & Logistics in the Southampton office said: “IPIF really looks after its estates and this is shown by the refurbishment programmes that it has undertaken including Deacon Trading Estate, Sun Valley Business Park and Millbrook Industrial Estate. The vacant units are refurbished to a very high standard and this is evidenced by the interest and lettings that we have achieved across all of the estates.”

Liz Dunsmore, Leasing Manager for IPIF, added “We are very pleased with the success we have had across the Fund so far in 2013, particularly in the South East where we have continued to see improved levels of take up. We remain committed to providing local and regional businesses with quality new and refurbished Industrial units, in prime locations, within a well maintained estate environment, all available on competitive lease packages”.