A commercial property consultancy in Hampshire has topped the annual league for office space deals along the M27 between Southampton and Portsmouth.
It is the second year in a row that Hughes Ellard, an independent employing 20 staff, has taken the honours ahead of nine other agencies in the closely-watched table.
Figures released by Estates Gazette, the commercial property ‘bible’, showed that just under 633,000 sq ft was disposed of across the M27, up 1% on the previous year.
Of that, Hughes Ellard, which has offices in Fareham and Southampton, accounted for nearly one third of all office space sold or leased.
The firm, established more than 40 years ago, recorded an increase in disposals to 49, from 40.
Two involved a total of 90,650 sq – the 23,650 letting to regional law firm Trethowans at The Pavilion, Botleigh Grange, and the 67,000 freehold sale of the Connect Centre, just off the M275 at Portsmouth.
Russell Mogridge, head of transactional at Hughes Ellard, said: “Whilst both those deals were of importance, they did not skew the figures because our other 47 disposals still placed us at the top of the leader board by square footage.
“It is testament to our team, from the surveyors to back-office staff, that companies and organisations choose us to find them the best locations at the right prices.
“Estate Gazette’s figures are of relevance to many businesses along the commerce-rich M27 because they show what appetite there is for office space.
“What is clear, now that the economic recovery has traction, is that the days of companies looking for cheap space is over, especially because there is a lack of decent stock. Ones who waited have missed the boat.”
In total, Hughes Ellard disposed of 272,360 sq ft in 49 deals.
According to Estates Gazette, the average office size deal along the M27 was 2,693 sq ft, down from 3,394 sq ft, indicating that occupiers are taking smaller premises.
Its figures are based on data supplied by the agencies from September 2013 to August 2014.
