Huge demand has brought a Chichester business park to almost full occupancy, with just five units left out of 75 that were speculatively built.
Glenmore Business Park, at Portfield Works, has become a thriving hub for businesses since landlord and developer Glenmore Group began work on building 75 units in two phases over 18 months ago. With the first phase of 35 units sold or leased last year, South Coast commercial property specialists Lambert Smith Hampton (LSH) report there are now just five left available of the 40 high-quality units built in the second phase.
Occupiers at the business park include World of Books, one of the largest internet booksellers in the UK, which has taken a 10,000 sq ft space for warehousing and office use, and indoor trampoline operator Flip Out, which has over 22,000 sq ft on the site.
The last five units range from 1,346 sq ft to 2,204 sq ft and are ideal for small to medium-sized businesses to purchase on a freehold basis for industrial, storage and distribution uses. They will be completed and ready for occupation from November this year.
Guy Jackson, Associate Director, Industrial at the South Coast offices of LSH, said: “Glenmore Business Park was built on a speculative nature without a single deal in place and the take-up by businesses has been nothing short of phenomenal. The speed at which these units have been leased or sold reflects the quality of the units and the strategic location of the site within easy reach of the A27.
“Strong demand continues for these small business units and I predict we will reach full occupancy very soon. The remaining units present a great opportunity for occupiers to purchase their own brand-new unit on a freehold basis.
“Glenmore Business Park represents a real success story for Chichester and has brought a significant employment boost to the West Sussex economy.”
Lambert Smith Hampton are joint property agents for the second phase alongside Michael Jones & Company and Chichester-based Henry Adams.
Daniel Rubin, Managing Director at Glenmore Group, said: “I am delighted with the continued success of Glenmore Business Park, which is meeting the strong demand for quality business accommodation along the A27 corridor.”