Solent Business Park, the premier business park on the south coast.
• Prominently situated on Solent Business Park, the premier business park on the south coast, adjacent to Junction 9 of the M27 motorway equidistant between Southampton and Portsmouth.
• Fusion is only a 15 minute walk and 2 minute drive from British Land’s £100m redevelopment of Whiteley Shopping Centre, which offers 340,000 sq ft of retail and leisure amenity.
• The park will also benefit from a £23m infrastructure project on Junction 9 of the M27 and Parkway South roundabout, thus reducing congestion to Solent Business Park.
• Three high quality office buildings known as Fusion 1, Fusion 2 and Fusion 3 totalling a net internal area of (14,605.39 sq m).
• Fusion is multi-let to seven tenants with strong covenants on 10 leases. There is a 9,632 sq ft vacant suite on the ground floor and 14,579 sq ft vacant suite on the part 1st floor of Fusion 3. The vendor will provide a 12-month rental guarantee on the vacant space.
• A total passing rent of £2,890,624 per annum provides and average rent of £18.15 per sq ft (including the vendor’s rental guarantee).
• A contracted rent of £2,430,615 per annum equating to an average rent of £15.23 per sq ft (exclusive of the vendor’s rental guarantee).
• Estimated Rental Value of £19.00 per sq ft.
• WAULT of 4.67 years to expiries and 2.39 years to breaks.
• 818 car parking spaces providing an excellent car parking ratio of 1:192 sq ft.
• We are instructed to seek offers for the freehold interest in excess of £33,800,000 (Thirty-Three Million Eight Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level provides an attractive net initial yield of 8.01% after deducting purchasers’ costs of 6.77%. This reflects a low capital value of £215 per sq ft overall.
Solent Business Park is a major employment hub within the Solent economic region on the South Coast of England.
Solent Business Park is a major employment hub within the Solent economic region on the south coast of England. It is located on the M27 corridor equidistant between Southampton and Portsmouth. Southampton city centre is situated 8 miles to the west, whilst Portsmouth is situated 11 miles to the east. London is approximately 80 miles to the North East. Solent Business Park covers some 79 hectares (195 acres) of mixed-use development. The Park is comprehensively landscaped with parkland and lakes.