Nationwide tools and accessories supplier Toolstation has opened a new trade counter at Southampton Trade Park – bringing the park to full occupancy.
Toolstation moved into the 4,467 sq ft Unit 2 at the park at Third Avenue, Millbrook, in mid-February. It joins businesses including Tile Giant, Crown Decorating Centre, Newey & Eyre, Hydroscand and Resapol at the park.
Commercial property specialists at the South Coast offices of Lambert Smith Hampton (LSH), joint agents for the site with Hellier Langston, acted for the landlord, CBRE Global Investors, in the transaction.
The deal marks the final stage of the transformation of the park, which had only three units occupied when it was purchased by CBRE Global Investors for the ICL Pension Fund in 2009.
With advice from LSH, the park has been a sound investment for the landlord, with some units attracting rents of more than £10 per sq ft.
Adrian Whitfield, director, industrial at LSH, said: “We have worked alongside CBRE Global Investors to see Southampton Trade Park transformed from a low-occupancy industrial site to a thriving trade counter location.
“We are pleased to have been able to use our knowledge of the market on behalf of our client to maximise this site’s potential for trade counter use, bearing its position on a main road and the high volume of passing traffic.
“We are delighted to welcome Toolstation as a high-calibre occupier, and to bring the site to full occupancy.”
Philip MacLaughlan, director at Adept Consultancy, which acted on behalf of Toolstation in the transaction, said: “As a rapidly growing business with hundreds of branches across the UK, Toolstation highly values high quality, well-positioned units.”