The next phase of development at Adanac North is taking shape with construction commencing this summer and Keygrove Chartered Surveyors are looking forward to the marketing.
Andrew Archibald, Director of Keygrove, comments “The recent Freeport announcement is great news for Southampton and is expected to fuel demand for commercial property. However, it takes a long time for new commercial property developments to be constructed. Once detailed planning permission has been granted and the numerous planning hurdles have been overcome it is a complicated and time consuming process to work up the detailed specification and to appoint contractors for the construction. There has also been plenty of talk in the press about the lack of supply of building materials following the pandemic and most people don’t appreciate the difficulty of arranging for utilities such as electric, water and foul drainage. The Southampton based team of developers Oceanic Estates and their architects Boyle & Summers are now ready to commence construction and have just released the first CGI’s of Phase 2.”
Keygrove continue “Phase 2 Adanac North is really exciting. The industrial market is strong and together with our joint letting agents Lambert Smith Hampton we successfully let the entire 200,000 sqft first phase of Adanac North, Nursling last year during the pandemic. Construction of Phase 2 is due to commence this summer providing new buildings of 5,834 – 21,980 sqft. We expect strong demand as we already have interest in some of the new units even though they will not be ready for occupation until summer 2022 and the recent announcement of Southampton becoming a Freeport is expected to stimulate demand even more. We also have additional land available in Phase 3 for specialist design & build buildings if customers want us to build something bespoke to their own particular requirements.”