Southampton: Utilita takes largest office letting on the South Coast since 2014

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TBM Team

In the largest office letting on the South Coast since 2014, which will be a major boost to the local economy and provide job growth for the region, Lambert Smith Hampton (LSH) has secured Utilita as a tenant for 53,872 sq ft Hutwood Court at Chandler's Ford, on behalf of TH Real Estate.

Previously based in Winchester, Utilita, which supplies gas and electricity to the pre-payment market, wanted to double its size but stay within the area, retain its existing workforce and tap into the larger labour pool offered in the Southampton area.

Hutwood Court will provide a HQ office building that fits the Utilita corporate image and values and provides the space to grow.

Andrew Hodgkinson, director of office agency for LSH’s South Coast team, explained: “Hutwood Court had been vacant since 2011 and LSH was appointed to market it in 2015. Negotiations commenced with Utilita in March 2015 and a 10-year lease was signed within a year. The speed of the deal is illustrative of the reduction in grade-A supply that we have seen across the South Coast.”

Bill Bullen, CEO of Utilita, said: “This is a landmark day for the company – we are growing very quickly and I am mindful that we are very much a Hampshire success story. We’ve reached 400,000 customers and expect to hit half a million early in 2017.”

Martin Payne of TH Real Estate added: “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.”

LSH acted as joint agent with RealEst.

TBM Team