RO Real Estate, the UK commercial property investment and development company, which acquired 3-7 Town Quay in Southampton from TH Real Estate, is to rebrand the scheme Waterside Place. The three office buildings which total 48,441 sq ft (4,500 sq m) are currently 90% occupied by tenants including Lloyd’s Bank.
The rebrand to Waterside Place was decided in a local competition, won by Real Est’s Steve Williams and coincides with a major refurbishment programme to improve the overall site including better on site amenities and improved access to the water front. Starting with the second and third floors at 5 Town Quay, the buildings will be substantially upgraded to meet the needs of the modern occupier and are expected to be ready for occupation early next year.
The properties, which are situated on the harbour front with views across the marina and river estuary, form part of the larger Town Quay development along the waterfront which incorporates offices, leisure facilities and the Red Funnel passenger terminal. The prominent location, on-site parking, excellent transport links and connectivity to the city centre make Town Quay a much sought after destination.
Commenting on the rebrand and acquisition, Nick Moore, Senior Investment Manager at RO Real Estate said: “Following our acquisition, we felt it was the right moment to rebrand the scheme. The competition to choose a name was a great success and we had plenty of variety, however we all agreed Waterside Place was the best name.
“We are pleased to have added Waterside Place to our portfolio, particularly given the shortage of premium office space in Southampton. Once the refurbishment programme and estate improvements are complete, Waterside Place will offer an excellent office environment to complement its Waterside location and will appeal to occupiers looking to relocate into high quality office space.”
CBRE acted on behalf of RO Real Estate during the acquisition process and have been appointed joint agent with Hughes Ellard to market both the second and third floors at 5 Town Quay, Waterside Place.
