Lambert Smith Hampton and JLL have been instructed to market a 51,634 sq ft speculative development, Evolution 50, at Walworth Business Park on behalf of its owners, Test Valley Borough Council and Kier Property. The new build practical completion date is scheduled for early 2016, with ground works due to commence in June of this year.
Located in a prominent position on a corner plot of 2.64 acres at the junction of Walworth Road and Central Way, Evolution 50 will be a high quality detached warehouse and industrial building and is the first new build development since a major regeneration project was agreed between Test Valley and Kier in May 2011.
The building specification will include two dock level and four full height level access loading doors on a fully self contained site and will achieve an ‘A’ EPC Energy rating. This 10 metre high bay warehouse benefiting from 50 KN/sq m (800lbs/ sq ft) power floated floor will incorporate integral first floor offices fronting onto the main estate road, Walworth Road, with separate office parking and a separate yard area and additional parking accessed off Central Way. There will be 106 car spaces at a rate of one space per 45 sq m.
Currently undergoing a major rejuvenation and redevelopment programme, Walworth Business Park’s current occupiers include Twinings, Le Creuset, Londis and Petty Wood, Ocado and Abel & Cole.
Adrian Whitfield, Director of Industrial and Logistics Agency for Lambert Smith Hampton, states: “This progressive speculative build is a direct response to the lack of supply of good quality industrial space seen on the South Coast at present. Kier and Test Valley Borough Council have made an astute move in aiming to fill this demand with Evolution 50 and we expect a very high level of interest from occupiers looking to lease or purchase a prominent new warehouse and industrial headquarters building, the like of which has not been built on a speculative basis in this area for 20 years.”
George Shepherd, Senior Development Manager at Kier Property comments: “In the four years since our partnership with the council commenced, we have been delighted with the public and private sector proactive asset management that is taking place on this estate, which has already resulted in the lowest voids seen for a number of years. We are excited by this new speculative distribution warehouse and given its close proximity to the A303 and M3 which will allow it to serve the south and south west, it is no surprise that we are already in discussions with one or two prospective occupiers on it.”
