Hampshire Police new Chandler’s Ford HQ
1 July 2008
Largest industrial/warehouse sale in southern Hampshire in years.
The industrial team at CB Richard Ellis South Central Region in Southampton is pleased announce that it has completed the sale of the largest vacant industrial/warehouse in Hampshire on behalf of IPIF and Legal and General. In what is one of the largest transactions of its type in over 10 years, Alpha Park, on the Chandler’s Ford Industrial Estate has been purchased by Hampshire Police as part of its ongoing strategic relocation plans from its current HQ in Winchester.
Alpha Park is a 166,000 sq ft HQ building with over 40,000 sq ft of office accommodation and 120,000 sq ft of workshop and warehouse space, with a total site area of 8.5 acres.
Paul Edwards, Fund Manager at Legal & General, comments:
“It was clear that once the site had been vacated, our asset management experience would be essential in realising the value of the asset. We believe that the underlying qualities and flexibility of the building, combined with a strong location positioned it well to meet Hampshire Police’s requirements for its new headquarters and we are delighted to have been able to provide a solution to this end.”
Industrial agent at CB Richard Ellis, Nick Tutton, said:
“CBRE and King Sturge were instructed by Legal & General to advise it on its options as soon as the property was vacated by the previous tenant earlier this year. Following a comprehensive consultation period a decision was made to dispose of the building as a whole or carry out a full refurbishment programme, which would have included demolishing part of the existing building. Although a decision was initially taken to start the refurbishment works, we soon started a dialogue with Hampshire Police Authority to purchase the site as a whole.”
Peter Hall, Agency Director, adds:
“This transaction shows positive signs for the strength of the local market. It is clear that where a property is well positioned with good transport links, deals are still being undertaken.”
Councillor Jacqui Rayment, Chair of the Hampshire Police Authority, describes the move as the biggest change in the constabulary’s recent history.
“We are delighted to have been able to secure this site at Chandlers Ford, having spent so long looking for the right solution for the future of the constabulary.”
For further information:
Contact: Nick Tutton
Tel: 023 8020 6313
Email:Nick.tutton@cbre.com
Web: www.cbre.com.
