Southampton: Seven lettings kick off Adanac North

Oceanic Estates has secured 128,185 sq ft of industrial lettings in seven deals and is under offer on a series of further transactions at its Adanac North business park on the M271 in Southampton.

The park is being leased up for Oceanic by Lambert Smith Hampton and Keygrove Chartered Surveyors. The lettings at the 190,000 sq ft first phase are:

• Units D1 & D2: 37,664 sq ft (3,499 sq m) let to Asendia UK

• Units E1 & E2: 18,100 sq ft (1,681 sq m) let to Parthian Climbing

• Unit E5: 3,434 sq ft (319 sq m) let to Star International

• Units E6, E7 & E8: 16,750 sq ft (1,556 sq m) let to Rivus Fleet Solutions

• Unit F1: 5,016 sq ft (466 sq m) let to Marineguard Systems

• Unit F4: 5,016 sq ft (466 sq m) let to Hampshire and Isle of Wight Air Ambulance

• Unit G: 42,205 sq ft (3,921 sq m) let to CIMC (China International Marine Containers)

Units D3, D4, D5, E4 and F3 are under offer, leaving two units available.

Adanac North comprises 18 Grade A industrial units totalling 190,000 sq ft over a 20-acre site. The site also offers further design and build industrial and office opportunities.

Andrew Archibald, director of Keygrove, said in a statement: “Phase 1 of the development has been hugely successful with 16 of the 18 units under offer, exchanged or pre-let during construction, representing over 90% of the available space within the total scheme. There are only two units remaining, varying in size from 4,962 sq ft to 8,310 sq ft. It is a tremendous feather in the cap for Oceanic Estates who have pushed ahead fast with this development despite the 2020 headwinds.”

Dan Rawlings, associate director of Industrial & Logistics at Lambert Smith Hampton, added: “Adanac North has the potential to help drive huge economic growth and job creation in the area. The site represents a great opportunity for new businesses looking to move into the area or companies looking to expand.”

Harry Hutchinson, director of Oceanic Estates, said:“We designed Adanac North to have large service yards and a great specification. The buildings have BT fibre ready connectivity, gas, 3 phase power, 50kn/m² industrial floor loading, generous yard depths as well as being a highly secure site with palisade perimeter fencing. The integral offices benefit from comfort cooling, LED lighting and raised access floors. The units look modern and aesthetically pleasing with mini micro rib cladding and planished basalt stone blockwork.”

Dan Rawlings and Luke Mort of LSH acted as joint agents along with Andrew Archibald and Lauren Udall of Keygrove Chartered Surveyors.

Source: CoStar