With successful schemes across Dorset and Surrey, Tidebank is now set to undertake its largest project to date to deliver a total of 34 units ranging from 1,600 sq ft to 4,000 sq ft and has appointed JLL and Holloway Iliffe & Mitchell as joint agents to market its latest scheme. Daedalus Park is one of the few speculative schemes to come on stream this year. Guide prices for the first phase are £115 per sq ft freehold or from £8.5p per sq ft leasehold.
Tidebank has acquired the eight acre site from the Homes and communities Agency and construction is just weeks away from beginning on a new light industrial park within the Solent Enterprise Zone, at Daedalus Park. The first phase – the Albion building – which is made up of seven units totalling 12,433 sq ft (1,155m2) is scheduled for completion in June 2016 and phase two – the Fearless building – will have four units totalling 11,668 sq ft (1084 m2) completed in Spring 2017.
Daedalus Park is located within the Enterprise Zone at Lee on the Solent and is set to offer an initial seven buildings – each named after Aircraft Carriers, Fleet Auxiliary and Assault Ships from the Royal Navy.
Being within the Enterprise Zone, tenants can take advantage of discounted business rates, access to the Regional Growth Fund and superfast broadband. In addition the area will benefit from improved access as the new link road is set for completion towards the end of 2015. The new Centre of Excellence for Engineering, Manufacturing and Advanced Skills Training is up and running at Fareham College and in May, the Innovation Centre opened, bring much needed and employment and skills to the region.
Commenting on its appointment, Holloway Iliffe & Mitchell Director Tom Holloway said: “Daedalus Park is a hugely exciting development. With availability across the south still at an all-time low, these units would suit investors or owner/occupiers equally well. Construction on the first units is due to start in early January and there has already been a high level of interest from a number of potential occupiers for the first phase, with several units already reserved.”
JLL Director David McGougan added: “The development at Daedalus Park will provide much needed quality space for both local businesses looking to upgrade or expand and new occupiers wanting to move to the area. For as little as £1,000 potential tenants or purchasers have been able to reserve their space and even influence elements of the design to ensure they get space that suits their needs.
“With availability of industrial space reducing all the time across the south, Tidebank’s development will be a welcome boost to supply and with the interest already shown by potential occupiers, we are expecting many of the units to be reserved early in the development process.”
