South Coast: LSH reports warehousing demand as online shopping soars
Leading commercial property specialist Lambert Smith Hampton is reporting a growing demand for warehousing and industrial space on the South Coast - as online shopping soars.
Responding to this week's national report about the boom in online retailing increasing demand for sites, Adrian Whitfield, industrial and logistics director for the South Coast team of LSH, said: “We are seeing robust demand for warehousing and industrial space in the south and this is partly fuelled by the boom in online retailing.
“Online retailers are looking for warehousing and distribution space near large cities like Portsmouth and Southampton in order to be closer to their market and in turn provide faster delivery times.
“While there is certainly a wave of confidence in the logistics market, that optimism is threatened by a shortage of high-quality space.
“Several key large developments LSH are instructed to market, such as South Central and Alpha Park near Southampton and Dunsbury Park in Havant, and will go some way to appeasing the growing demand from occupiers.”
Adrian said the demand was demonstrated by the high levels of interest at sites such as Alpha Park, a £20m industrial and warehouse development off School Lane, in Chandler's Ford.
The site is due to be completed in September and one of the three large units – a 19,414 sq ft industrial and warehouse development – is under offer.
The Kite’s Croft industrial development, off Southampton Road in Fareham, will be fully let, with Unit 3 let to Velocity Composites and Unit 10, a high-quality 30,558 sq ft industrial and warehouse space, under offer. Both units are new builds that were developed speculatively.
