Recently in Hampshire Category

lego blocks.jpgMuse is the winner at Basing View. The news came through today that it will partner Basingstoke and Deane borough council on £200m worth of regeneration to build 700,000 sq ft of offices, piping John Laing to the post.

So the building blocks are in place but there are a couple of sticking points. 

Number one is the council's freehold interest in the site. Many agents felt that it would be wishful thinking to imagine a developer will come and build at Basing View without being able to offer it the freehold. 

A quick phone call to the council and it seems it will retain the freehold and will offer Muse a long leasehold. The actual length hasn't been decided but it will be on an institutional basis probably around 125-150 years.

That will be some comfort to Muse but also to residents - Basingstoke council is, perhaps surprisingly, the fifth-largest local authority landlord in the country, and earns around £2m pa in rent from its various long-leaseholds. 

 
Number two is the battered and bruised office market. The industry is happy that it's sensibly decided on prelets rather than any silly stipulation to make the developer build speculatively. Had it not it would probably have sent most developers running for the hills, especially given the precarious nature of Basingstoke's office market - something we analysed in the Hants and Dorset Focus in the magazine last week (£). 

But for Muse to make a good stab at this, it will need to tackle both getting a tenant through the door at the same time as upping headline rents that at £23 per sq ft barely make development stack up.

Related stories (£):

Lego blocks picture from oskay on Flickr

EG Hants & Dorset Focus synopsis

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Estates Gazette Hampshire & Dorset Focus synopsis
Published October 22, 2011

Offices (covers Southampton, Portsmouth and Bournemouth)                              
Analysis of market strength and future trends.
Contact: Joanna Bourke, senior writer, 020 7911 1816, joanna.bourke@estatesgazette.com

Retail (covers both counties)
Analysis of the market strength and future trends.
Contact: Helen Hamilton, freelance writer, 07758 833735 bluesomeh@gmail.com

Residential & Student Housing (covers Southampton, Portsmouth and Winchester)
Analysis of the strength of the market and future trends.
Contact: Liz Loxton, freelance writer, 01992 581975, lizloxton@virginmedia.com

Basingstoke
Analysis of strength of the market and future trends
Contact: David Thame, freelance writer - 01544 262 896, dthame@clara.co.uk

Industrial (South Coast)
Analysis of the strength of the market and future trends across the South Coast.
Simon Jack, freelance writer - 01225 444 780, simon@sdjack.freeserve.co.uk

Market health check
Please contact Stacey Meadwell, regional editor, 020 7911 1819, stacey.meadwell@estatesgazette.com if you think you can provide up to date stats for offices, retail and industrial sectors in the following centres Southampton, Plymouth, Bournemouth & Basingstoke


Please contact writers by Monday 26 September 2011

Sunshine and showers at EG's Southampton Focus reception

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The Autumn reception season kicked off with our annual trip to the Royal Southampton Yacht Club yesterday. Once again there was a bumper turn out with some travelling from Bournemouth and Portsmouth to attend. Sadly the weather wasn't quite up to making the most of the terrace overlooking the marina but it didn't dampen the mood.

We managed to tempt three agents in front of the EG video camera to ask them about market conditions and you see what they said at the bottom of the post. Our photographer was also snapping away, just click on the slide show to see all the pictures. 

We'll be examining the Hants and Dorset market in more detail in our Focus on Oct 22.


Hampshire & Dorset Focus synopsis

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ESTATES GAZETTE HAMPSHIRE & DORSET FOCUS
PUBLISHED 14 MAY, 2011


Southampton
Analysis of market strength
Contact: David Thame, freelance writer, 01544 262 896
dthame@clara.co.uk

Portsmouth
Analysis of market strength
Contact: Adrian Morrison, freelance writer, 07818 013 233
adrian.morrison@addmor.com

Market in numbers
Covers offices, retail and industrial in Southampton, Portsmouth and Bournemouth.
Email Stacey.meadwell@estatesgazette.com if you think you can provide up to date statistics for the markets listed above.

Please contact writers with editorial information by Monday 18 April 2010



Pickles taken to task by Cala Homes on regional strategies

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royal.jpgThe latest result from the High Court: House-builders 1 - central government nil.

Today's news that a High Court judge has decided in favour of Cala Homes' claim that the government's decision to scrap regional spatial strategies was unlawful, has created quite a stir.

Back in July, when communities secretary Eric Pickles revoked RSSs,there was uproar as market players argued that the coalition government had thrown the planning rulebook out of the window.

Today's ruling has major significance for the regions. Cala's objections were centred around its proposed 2,000-home scheme in Winchester, Hampshire, and already, housebuilders with schemes in Cornwall and Essex have followed Cala's lead and launched challenges.

Experts have warned that the ruling provides developers with only a temporary window of opportunity before the government squashes regional strategies once and for all. It will be fascinating to watch the market's reaction and see wherther planners are prepared to give the green light to projects as a result of today's decision.

In the meantime, here's a round-up of some initial reaction from the web:

  • Construction Enquirer points out that Housebuilders Catesby Property Group and Colonnade Land have also launched legal action regarding schemes in Bude, Cornwall, and Rochford, Essex, respectively. 

Hampshire & Dorset Focus synopsis

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Estates Gazette Hampshire & Dorset Focus synopsis
Published October 23, 2010



Southampton                       
Analysis of market conditions and trends across retail, offices & residential
Contact: Daniel Cunningham, acting deputy regional editor, 020 7911 1822, Daniel.cunningham@estatesgazette.com

Public sector
Analysis of the impact of the coalition government's localism agenda.
Contact: Karen Day, freelance writer, 07971 671 369, karen.day@dsl.pipex.com

Basingstoke
Analysis of market conditions and trends across the offices and retail sectors
Contact: David Thame, freelance writer, 01544 262 896, dthame@clara.co.uk

Industrial
Analysis of market conditions across the two counties.
Simon Jack, freelance writer - 01225444 780, simon@sdjack.freeserve.co.uk

Bournemouth & Poole
Analysis of market conditions and trends across the offices, retail and residential sectors.
Simon Jack, freelance writer - 01225444 780, simon@sdjack.freeserve.co.uk

Market in numbers
Please contact Stacey Meadwell, regional editor, 020 7911 1819, stacey.meadwell@estatesgazette.com if you think you can provide up to date stats for offices, retail and industrial sectors in the following centres Southampton, Plymouth, Bournemouth & Basingstoke

Please contact writers by Monday 27 September 2010
 

Hampshire & Dorset Focus synopsis

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ESTATES GAZETTE HAMPSHIRE & DORSET FOCUS
PUBLISHED 8 MAY, 2010


Statistical overview Covers offices, retail and industrial in Southampton, Portsmouth and Bournemouth.
Contact: Melanie Smith, editorial assistant 020 911 1916, melanie.smith@rbi.co.uk

Southampton Analysis of market strength
Contact: Daniel Cunningham, senior writer, 020 7911 1822, daniel.cunningham@rbi.co.uk

Bournemouth Analysis of market strength
Contact: Simon Jack, freelance writer, 01225 444 780, simon@sdjack.freeserve.co.uk

Please contact writers with editorial information by Monday 12 April 2010

Sneak peek at our Hants, Dorset and South Wilts Focus

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There's always a lot of ground to cover in our Focus on the south coast counties so here are just some of the highlights of what will be appearing in tomorrow's magazine:

Southampton After the party there is the clearing up to do and this is what the city now faces as cruise operator Carnival consolidates it staff into one shiny new building. I look at what space is left behind and its impact on the market when there is already plenty of secondhand space.

Portsmouth Melanie Smith debates the merits of Highcross's new 275,000 sq ft office scheme and whether it will transform the market as hoped.

Winchester More second hand space dilemma's as the council chooses to make do with revamping and extending it's existing space.

Bournemouth
The council at the seaside town has grand regeneration plans but as the deadline for submissions from potential private sector passes, Nadia Elghamry asks whether it is being overly ambitious?

Agency For a market in the grip of a recruitment freeze and job culls there seems to be a lot of movement among Southampton's agency staff. I look at what's been happening and talk to some of those who've decided to set up on their own in the toughest of market conditions.

A tale of two shopping centres

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Thumbnail image for westquay.jpgThere were no signs of a recession in Southampton's West Quay shopping centre at lunchtime last Friday. It might just be because visitor numbers were swelled because of the boat show and three docked cruise liners but the John Lewis-anchored, Hammerson-owned centre was buzzing with shoppers - some of whom even had carrier bags.

However, not all of Southampton's shopping centre's were enjoying the same amount of attention. A quick walk over to the older Bargate Shopping Centre told an entirely different story.

Walking through the entrance doors passed the 'Shops To Let' signs the only faint buzzing came from the moving escalators. There were more empty shops than there were people shopping and there were more staff in the shops that were open than customers.

The centre is in dire need of a make-over and I'm sure owners Parkridge Developments will have plans once the market starts to recover.

Bargate.jpg For more Southampton pictures click here

Do politicians understand the spirit of a united front?

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shake.jpg

At our Southampton reception last week representatives from Southampton and Portsmouth city councils were very keen to talk about a new initiative of theirs.

You see in the spirit of unity, the rival cities have decided to work together to land new businesses.

Rather than each having its own inward investment team jealously guarding any new enquiry they will share the information and market both cities to  potential investors.

All very magnanimous and sensible but as one Southampton agent pointed out: "Has anyone told the politicians?"

And they have a point. In these times of rising unemployment, would any politician pass over the opportunity to score constituency points by sharing details of a business that could create valuable jobs?



Picture by Rob Gallop on Flickr and used under creative commons


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