Trilogy is now under offer.”The surge in demand points to a growing shortage, but rents have yet to respond although free periods are coming in a little. According to Moyler the rise in activity has prompted SEGRO to start the process on sites it has at Merlin Park, Portsmouth that will lead to a planning application. London Clancy’s David Heda noted that the shortage of large industrial units has been made more acute by the absence of new development. This view was reinforced by Matthew Poplett of King Sturge who said: “There are no buildings of over 4,181 sq.metres (45,000 sq.ft.) available between Portsmouth and Southampton and only a speculative unit at Apex House, Fareham, under construction. There is also a lack of development sites along the M27 corridor and we expect no new construction for between 12 and 18 months.” Jerry Vigus of Lambert Smith Hampton said: “While it is obviously encouraging to see the increase in demand for large units, if there is no supply for future demand then there could be significant long term consequences for occupiers.” He points the finger for part of this problem to the government’s empty rates policy. “We have a number of developer and institutional clients who are well aware of the shortage but due to funding issues and - more importantly - empty property rates legislation, there is no incentive for them to build speculatively.”
The South Coast Central Commercial Property Register
The http://www.compropregister.com/southcoastcentral.aspx"> South Coast Commercial Property Register is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space on the South Coast, Serviced Offices on the South Coast and commercial property on the South Coast. You can also find the latest commercial property news for the South Coast region.
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