Andover: 'Highly competitive' new industrial development back on market
A high-quality detached warehouse and industrial unit built as part of a major redevelopment project on the Walworth Business Park in Andover is expected to attract good levels of interest from potential occupiers after going back on the market.
The 51,626 sq ft development, Evolution 50, at Walworth Business Park, is available after abortive negotiations with a prospective occupier. The scheme was the first new-build industrial development completed by Kier Property since a joint venture between was formed between Test Valley Borough Council and Kier Property in 2011.
Adrian Whitfield, director, industrial & logistics at Lambert Smith Hampton (LSH), joint sole agents for the scheme with JLL predicts that the comparatively low rent will now attract high levels of enquiries.
He said: “This is an impressive, high-specification building that is available at a quoting rent of £8 per sq ft – meaning that occupiers can enjoy the benefits of brand new, modern facilities at a much more competitive rate than we are seeing elsewhere in the South East where rents in the surrounding area in the South East in locations such as Basingstoke, Southampton, Woking & Reading range between £9.50 psf to £12.50 psf.
“Evolution 50 was built specifically to address a lack of supply of good quality industrial space on the South Coast, and is the first of its kind to be built in Andover for around 20 years.
“Having seen significant interest at the launch of this unit, we are now expecting to see high levels of enquiries as occupiers see the opportunity to secure favourable occupational costs compared with other locations and upgrade from older lower eaves space to a Grade A spec building.”
The building specification includes two dock level and four full height level access loading doors on a fully self-contained site. The 10-metre high bay incorporates integral first floor offices fronting on to the main estate road, Walworth Road, with separate office parking and a separate yard area and additional parking accessed off Central Way. There are 106 car spaces.
Walworth Business Park’s current occupiers include Twinings, Le Creuset, Londis and Petty Wood, Ocado and Abel & Cole.
The park lies adjacent to the A303 on the eastern side of Andover, close to the town ring road and close to the M3 motorway and the A34 trunk road.
