Work is currently underway on the largest speculative office refurbishment the South Coast has seen for a number of years. Purchased for a figure in excess of £5m by Poole based investor Troika Developments, the recently vacated offices will be the only high quality, Grade A refurbished building in Southampton or the surrounding area, capable of providing up to 50,000 sq ft in a single building.
The comprehensive refurbishment programme is expected to be completed by late summer and the property is now being marketed to lease by international property consultants CBRE and South Coast agent Hughes Ellard at an asking rent of £18.75 per sq ft.
Associate Director at CBRE Nick Tutton comments “There is a real shortage of quality buildings, particularly in such a good location. It benefits from excellent transport links with access to the M3 and M27 motorways, rail stations at Eastleigh, Southampton Parkway and Chandlers Ford, and Southampton International Airport all within a two mile radius.
“We have already received an encouraging level of interest in the building and expect this to continue as the refurbishment progresses.
Joint agent Nik Cox Director at Hughes Ellard comments “The quality of refurbishment will be to a high standard and the underlying fundamentals of the building are also excellent. There is an impressive entrance reception with full height atrium and the main office accommodation is set out over four open plan floor plates of c12,000 sq ft arranged in an ‘L’ shape offering real flexibility in terms of layout. “
There are also approximately 290 car parking spaces with the building.
The property was previously occupied by major insurance business Ageas and is located on Tollgate Business Park, Chandler’s Ford adjacent to junction 14 of the M3. Nearby occupiers include Cisco, Baker Tilly, Blake Lapthorn and B&Q.
The building is available to let as a whole or on a floor by floor basis and any occupiers interested in the building are advised to contact joint agents CBRE or Hughes Ellard to discuss further.
