In a major boost to the local economy and providing jobs growth for the region, Lambert Smith Hampton has secured Utilia as a tenant for 53,872 sq ft Hutwood Court, Chandlers Ford, on behalf of TH Real Estate.
Previously based in Winchester, Utilia, which supplies gas and electricity to the pre-payment market, wanted to stay within the area, retaining its existing workforce and tapping into the larger labour pool offered in the Southampton area in order to double in size. Hutwood Court provides a HQ office building that fits the Utilia corporate image and values and provides the space to grow. It offers quality accommodation with excellent parking and good connectivity to public transport.
Andrew Hodgkinson, director of office agency for Lambert Smith Hampton’s South Coast team, explains: “Hutwood Court had been vacant since 2011 and LSH was appointed to market it in 2015. Negotiations commenced with Utilia in March 2015 and a ten year lease at £18.50 per sq ft was signed within one year. This is illustrative of the reduction in grade A supply that we have seen across the South Coast and occupiers have to act decisively to secure good quality space.”
CEO of Utilia, Bill Bullen, says: “This is a landmark day for the company – we are growing very quickly and I am mindful we are very much a Hampshire success story. We’ve reached 400,000 customers and expect to hit half a million early in 2017.
“As sad as we are to leave Winchester, we are delighted that we have moved to Chandler’s Ford to a facility that will help us continue to grow.”
Martin Payne of TH Real Estate adds: “To find a single occupier for Hutwood Court was a really positive outcome and was always the landlord’s objective. We were impressed with the approach that the whole agency team at Lambert Smith Hampton took to achieving such a successful letting.”
Lambert Smith Hampton acted as joint agent with RealEst.
