Portsmouth: Vail Williams reappointed Lakeside North Harbour agent

Property consultancy Vail Williams has been reappointed sole agent of a leading business campus on the South Coast following a competitive tender process.

Confirmation followed the recent off-market acquisition of Lakeside North Harbour in Portsmouth by the city council

The 120-acre campus has 90-plus occupiers employing 4,000 people between them on site and includes 600,000 sq ft of offices, a day nursery and 8.7 acres of development land.

Work by Vail Williams’ business space team, led by partner Russell Mogridge, includes marketing vacant office space and advising on commercial opportunities and property market intelligence.

Only a few office suites remain available to let, including a stunning ground-floor space, next to the lake, of 10,500 sq ft in 2000, a first-floor 8,000 sq ft  with roof terrace and an exposed mechanical & electrical ceiling feature in 4000, with quoting rents of £23 a sq ft.

Occupancy levels at Lakeside North Harbour are at a record high of 95%.

Occupiers include Babcock International, Checkatrade.com, Handelsbanken, IBM, LexisNexis, Regus, Southern Co-op, The News and Wiggle.

AT&T is the latest company to move in, leasing 11,000 sq ft on the second floor of 1000.

Tom Southall, assistant director for regeneration, said: “A competitive tender process was held with leading commercial property consultancies for the agency position at Lakeside North Harbour, which is a significant employment site for the city region. Vail Williams’ history and knowledge of the scheme is second to none and I’m delighted they are representing the city council.”

Mogridge said: “As sole agent once again, we look forward to working with Portsmouth City Council to continue income stream momentum, helping to secure new occupiers and advising on refurbishments.”

Vail Williams’ Solent team has two offices locally – one at Lakeside and the other at Ocean Village, Southampton.

The consultancy previously worked for the business campus’ former owner, Northwood Investors, for more than a decade.