Portsmouth: More space let at Lakeside North Harbour

Northwood Regional UK as asset manager has signed three deals to let over 65,000 sq ft of offices in Buildings 1000 and 3000 at Lakeside North Harbour, Portsmouth. Babcock, Capita and CT Automotive have all consolidated at the business park.

The largest of the three deals will see Babcock, the engineering support services organisation, sign for more than 55,000 sq ft. The deal is linked with an arrangement involving the outgoing tenants of the space, Capita, relinquishing its lease to take up an 8,500 sq ft office suite on a 10-year lease elsewhere at Lakeside North Harbour Office.

In addition, CT Automotive has let a further 2,100 sq ft of offices at Lakeside North Harbour on a 10-year lease.

Nick Turner, director, asset management Northwood, said: "We're delighted that Babcock, Capita and CT Automotive have chosen Lakeside as the base to support their continued expansion. We receive a high level of interest from firms which have outgrown their head offices and are looking for a location that reflects the high level of investment that they are making across their businesses. The fact that Lakeside is not only attracting new tenants, but also seeing existing tenants either consolidate or take up larger space on site, is testament to our commitment to deliver high quality, modern office space that supports new ways of working.”

The firms join companies including IBM, Porsche, Southern Co-Operative and Hippo at the 120-acre park close to Port Solent.

Vail Williams and Hughes Ellard are agents.

Source: CoStar