A lack of industrial accommodation for small businesses has led to huge demand for units on a commercial estate owned and managed by Hampshire County Council.
Five available units at Mitchell Close, Segensworth East, have been let and one other put under offer in just three months, reports Lambert Smith Hampton (LSH), sole agent for the scheme on behalf of the council.
The units, ranging in size between 476 sq ft and 1,047 sq ft, will be occupied by a variety of tenants including a specialist car audio company, a technology firm and an event styling business.
Mitchell Close, which has 28 units fronting the Segensworth East Industrial area, is owned and managed by the County Council as part of its commitment to accommodating start-ups and small businesses in the region. All the units on the estate are now either occupied, let or under offer.
David Reese, Estates Surveyor at Hampshire County Council, said: “There is demand for commercial property of all sizes in the market, but it is particularly difficult for smaller companies to find good quality accommodation at a size that meets their needs.
“Mitchell Close is one example of how the council is helping to meet the requirements of these smaller companies, and the level of demand we have seen demonstrates how much schemes like this are needed.”
Sarah Monk, Chartered Surveyor at the Southampton offices of LSH, said: “We have seen an encouraging number of developments at the Grade A mid-box and big-box end of the market, but the smaller end suffers from a lack of availability.
“We are pleased to have secured occupiers and offers for these properties so quickly on behalf of Hampshire County Council, and to be involved with an estate that is providing good quality accommodation for such a diverse range of start-ups and small businesses in the region.”
Lambert Smith Hampton, which has offices in Fareham and Southampton, is a multi-award-winning commercial property specialist and has the largest transactional team in the Solent region, with 13 specialists working in the industrial property, office space, retail, leisure and investment markets.