A thriving trade park in Portsmouth has reached 90% occupancy with the latest arrival.
K100, a home lifestyle design-and-supply specialist, has signed a 10-year lease on 650 sq m (7,000 sq ft) on units 3 and 4, a double-fronted showroom at Mountbatten Business Park, Jackson Close, Farlington.
Commercial property agencies Hughes Ellard and Vail Williams acted jointly in the deal on behalf of business park owner Ashtenne Industrial Fund, headquartered in London.
K100, which is relocating from the Castle Trading Estate in Portchester, is due to open from late March following a £200,000 refurbishment, including the extension of a mezzanine floor.
The firm, headed up by Steve Anam and employing five people, marks a hat-trick of deals on the park.
Halfords Autocentre, which carries out MOTs, services and repairs, has taken a 290 sq m (3,122 sq ft) unit.
Hooper Services, industrial cleaning equipment specialiasts, relocated from a neighbouring unit to larger A3, which is nearly 699 sq m (7,200 sq ft).
The quoting rent at the park is £10 a sq ft, with only unit 7 and unit A4 vacant.
Harnish Patel, business space agent of Fareham-based Hughes Ellard, said: “Mountbatten Business Park is a thriving business hub with a large catchment pool just north of Portsmouth. The business park also benefits from excellent road links along the South Coast corridor being just of the A27 linking to the M27 and A3 (M). We are confident that we will be fully let soon.”
Leanne Channon of Portsmouth-based Vail Williams, said: “K100 is the latest company to take advantage of this strategically positioned business park, which comprises four detached blocks fronting Jackson Close.”
Steve Anam of K100 said: “We’re bringing the West End of London to Portsmouth, and the £200,000 refurbishment is creating a statement showroom which will be one of the best of its kind in the South. The level of investment shows our confidence in the future.
“We were drawn to Mountbatten Business Park because of its proximity to the major road networks, as customer demand for our services and products takes us in a regional triangle from Poole to Brighton and up to Camberley. The added bonus was finding with a landlord who appreciated my intentions and was prepared to help a small business realise growth potential. Communication is excellent – it’s a great partnership.”
Ashtenne has a portfolio of 325 properties across the UK, providing more than 3,600 separate rentable spaces.
Scott Edgar, Ashtenne’s asset manager, said: “Mountbatten Business Park is a hugely important asset to Ashtenne which we have now owned since 2005. These deals prove the market remains receptive to good quality well located product and we wish K100 every success at its new home.”
Other occupiers include Plumbase, Euro Car Parts, The Landscape Group, X L Print and National Plastics.
Mountbatten Business Park comprises units from 232 sq m (2,500 sq ft) to 1,007 sq m (10,841 sq ft) and constructed of a steel portal frame.
They benefit from glazing to the front elevations at both ground and first floor level with offices constructed in various sizes in all units. Planning consent includes uses within B1, B2 and B8.
