The Capital Markets team at commercial property consultancy Lambert Smith Hampton reports that 2013 was a record year for investment and expects the market upturn to continue into 2014.
Lambert Smith Hampton’s Capital Markets team were involved in investment transactions equating to just over £89m in 2013, the majority of which were deals transacted in or around the South Coast.
As well as acquiring and selling investments, Lambert Smith Hampton (LSH) advised a number of institutional property clients acquiring property on the South Coast via its industrial and office departments.
Jerry Vigus, Director of Capital Markets at LSH’s South Coast office, says: “As with the rest of the country, the South Coast has experienced an increased level of investment activity. The lack of available, modern industrial units, as well as city centre offices on the market is prompting UK institutions and property companies to acquire assets as soon as they become available, offering short, as well as long term income.
“We have experienced a very high level of interest with most properties on the market going to two or three rounds of bids before a preferred party is selected to purchase.
“We expect the same level of activity to continue into 2014 and we are already experiencing this with a number of transactions in solicitor’s hands, as well as reporting on several assets for clients in the South East which are likely to come to the market.”
LSH was involved in the following key transactions in 2013:
The sale of Enterprise House, Portsmouth, to LaSalle Investment Management – a multi let office building of 152,000 sq ft, sold at £3,050,000.
The sale of Eaton House on Maidenhead Office Park on behalf of Axa Real Estate – a 67,000 sq ft building let to Avaya for £16m.
The sale of Limes Retail Park, Basingstoke, let to Co-op and Subway on behalf of Gentian Group at £1.76m.
The off-market acquisition of Unit 1 Stephenson Road, Segensworth, let to McFarlane Group – a 30,000 sq ft detached unit for Lewis Investments at £2.84m.
Jointly advising Threadneedle on the acquisition of Titchfield Park, Segensworth – a multi-let industrial estate at £9.3m.
The off-market acquisition of Unit 42 Oriana Way, Nursling, Southampton on behalf of CBRE Global Investors – a 62,000 sq ft unit at £4.3m.
The acquisition on behalf of CBRE Global Investors of a 58,000 sq ft unit on the Nursling Industrial Estate of £5.13m, let to Aalco Metals.
The sale of Eagle Point, Segensworth West. A multi let office building amounting to 30,000 sq ft on behalf of Craigard Investments at £4.7m.
Advising Cordea Savills on the acquisition of TW Metals’ unit on Nursling Industrial Estate, amounting to 108,000 sq ft at £10.05m.
The acquisition of Malthouse Trade Park, Shoreham, Brighton on behalf of Hargreaves. Tenants include Travis Perkins, Screwfix and Howdens – a multi let estate of 58,258 sq ft at a price of £6.45m.
