Bournemouth: Triple success for Lambert Smith Hampton

It’s been a good start to the year for national commercial property consultancy Lambert Smith Hampton (LSH) in the Bournemouth office market. The company has secured three notable deals in the first three months of the year: Richmond Point, Christchurch Road and Holland House.

LSH acted on behalf of a private client to sell the freehold investment of Richmond Point, a detached three-storey property on Richmond Hill, to an investment syndicate managed by Lewis Investments. Following high levels of interest for the property, Richmond Point, which is let on a 10-year lease to regional solicitors Steele Raymond LLP at a headline rent of £106,950 per annum, was sold for an undisclosed figure.

Alastair Warwick-Smith of Lewis Investments saw the purchase as a good investment for its clients: “The building’s location, excellent parking and income stream to a strong regional covenant were compelling reasons for us to advise on the purchase of this investment."

Jerry Vigus, director of Capital Markets in LSH’s south coast office, said: “The sale highlights the growing desire for commercial property investments and we received over 10 bids for the property, resulting in an excellent result for our client.”

LSH has also achieved success in letting the 6,000 sq ft ground and first-floor offices of 744-748 Christchurch Road, Bournemouth. The space was let to Tops Day Nurseries, part of the Hadland Care Group, on a five-year sub-lease at a confidential rent. The building will be used as the administrative HQ for the Hadland Group and is strategically located close to other existing premises occupied by Tops Day Nurseries.

Andrew Hodgkinson, head of office agency for LSH on the south coast, said: “This was the perfect opportunity for both parties. We have achieved significant savings for our client and Tops Day Nurseries has the ideal premises in which to continue the growth of its already-successful operations.”

To complete the trio of wins, LSH has just been instructed to market over 11,400 sq ft of office space in the heart of Bournemouth's business district. Acting on behalf of Mapeley, LSH together with joint agents Cowling & West is marketing the third floor at Holland House. The open-plan office resides on a single floor, which can be split to provide a range of floor areas from as little as 1,400 sq ft. The property also benefits from 18 parking spaces as well as close proximity (within 300 metres) of the Wessex Way and Bournemouth train stations.