Portsmouth: Transas signs 10-year lease on regional office at Lakeside

The company was previously located at Voyager Park in the city where it had been for 18 years.

Hughes Ellard and Vail Williams acted for Northwood Regional UK, in the deal. Quoting rent was £20 a sq ft.

Northwood Regional UK, which owns Lakeside North Harbour, invested £9.5 million in refurbishing 100,000 sq ft of former IBM space at Building 2000 and Building 3000 into high-spec offices with room for up to 2,000 people.

Russell Mogridge, the business space director at Hughes Ellard, said: “Transas is a market leader which required larger high-quality office, production and training space under one roof.

“Building 2000 at Lakeside, Hampshire’s fastest-growing business destination, fitted the bill exactly, being more than twice the size of Transas’ previous base in Portsmouth.

“To date, 35% of the new-to-market office space at Building 2000 and Building 3000 has already been filled, with Transas, Capita plc and Lead Forensics.”

Nick Turner, asset director for Northwood Regional UK, said: "We’ve always been confident that the demand from discerning companies for quality head office space is there, which is why we invested in a £9.5m scheme to create Grade A accommodation.

“Transas is an inspirational example of a forward-thinking business which holds great store in providing a quality workplace environment for staff here at amenity-rich Lakeside.”

Paul Dollery, Transas’ global property director, said: “Our new regional headquarters reflects Transas’ aspirations to be the best company of its kind in the global maritime IT market, helping vessels navigate the word’s seas and waterways safely. We are grateful to Hughes Ellard for helping Transas find our new permanent berth at Portsmouth.”

Office suites from 2,525 sq ft, or floors from 36,682 sq ft, are available to lease at Building 2000 and Building 3000 following practical completion last summer.

Occupiers at Lakeside include IBM, Babcock, Regus, Bouygues, Market Makers, Portsmouth Education Business Partnership, Hippo, Porsche, Verisona Law, The News, Handelsbanken, Douglas Stafford, Astute, Coffin Mew, Starbucks, Tops Day Nursery and Helistrat.

In a separate development on campus, work started last July on the construction of a 150-bedroom, four-star hotel under the Village Urban Resort brand, with a swimming pool and gym.