A prominent office block in Southampton city centre has been sold, national property consultancy Lambert Smith Hampton (LSH) has announced.
Andrew Hodgkinson, associate director of office agency in LSH’s South Coast office, acted on behalf of James Hay Pension Trustees to market and sell 41 Castle Way.
The 3,474 sq ft (323 sq m) two-storey property, which has predominantly open plan office accommodation, was sold for £370,000 to an undisclosed buyer.
“We are seeing a definite rise in the number of enquiries about freehold commercial properties now, which is a clear indicator that the market is gaining confidence once more,” said Andrew.
“However, there is a limited supply in Southampton which is driving up property prices. We’d like to see more good quality office space available to accommodate companies that either want to relocate here or who want to expand because they are experiencing an improving market.
“We are also seeing more queries about rental premises, which is potentially great news for the city.”
41 Castle Way Southampton is located in the southern end of Southampton city centre and prominently situated at the corner of Castle Way and West Street. It is on one of the main arterial routes through the city, providing connections from the north to Town Quay.
Southampton central railway station is nearby and the property has excellent access to bus services within the immediate vicinity. The main retail and banking facilities of the city at West Quay Shopping centre, the High Street and Above Bar are all located close by.
