Vail Williams LLP, leading real estate advisers and joint agent Cyan Power, have agreed a new lease on a modern business unit at Syncline House in Segensworth, Fareham with Complete Vehicle Management Ltd (CVM).
The business unit is 7,080 sq ft (657.7 sq m) and is situated in Segensworth West, which is midway between Portsmouth and Southampton, close to Junction 9 of the M27. Syncline House is a detached two storey office/business unit with open plan accommodation and parking for 16 cars. The terms of the lease negotiated have not been disclosed.
CVM, who offer full fleet management and vehicle leasing services to both corporate and individual clients have been established in the area for many years and will be using the building for their growing business.
Mark Oldrey, Director Complete Vehicle Management (CVM) said: “We had reached the point of outgrowing our existing property and faced the challenge of sourcing alternative modern premises, ideally within the local area. In Syncline House I believe we have found the right property and one that should be capable of facilitating our business needs for the foreseeable future.”
Vail Williams and Cyan Power acted jointly on behalf of Syncline Industrial Properties Ltd and CVM represented themselves.
Andy Gibbs, Associate and Head of Business Space at Vail Williams Southampton office commented: “We are very pleased to have secured this letting as before our appointment in July 2011 the building had been marketed unsuccessfully for some time. The location and building will exactly meet the needs of CVM as they have been undergoing considerable growth despite the challenging economic times.”
Vail Williams and Cyan Power are also marketing a neighbouring building, Elan House, which offers 10,860 sq ft (1,008.9 sq m) and is also a two storey open plan business unit with laboratory/R & D space and loading door. It is available for £126,500 per annum to rent or to buy at a price, the details of which can be supplied on request.