Velocity, Havant

Development Partner:

LaSalle Investment Management

Scheme:

Velocity, Stanbridge Road, Havant

Asset Class:

Industrial/warehouse

Size:

4.85 acres/101,000 sq ft gross internal area in 3 units

Type:

Acquisition and new speculative development

Project Overview

Taurus Developments has teamed up with LaSalle Investment Management for our second development project together. In October 2017, we purchased the site of the former Havant Distribution Centre of international pharmaceutical giant, Pfizer, from Barwood Capital.

The site totals 4.85 acres and is set within the established and principal industrial and distribution area of New Lane Industrial Estate, close to the A27 with excellent access to the M27 and A3(M).

The attraction of this development project was reinforced by Michael’s previous experience of undertaking development in the M27 corridor market. In addition, the general lack of development opportunities in this market at the current time, together with an established industrial/warehouse occupier base and perception of latent occupier demand, particularly in the mid-size unit band, gives us added optimism.

The site already benefits from planning permission for the proposed development and demolition and site clearance have also been completed.

Velocity is ready for redevelopment and speculative construction began in April 2018 and Practical Completion reached in April 2019, during which time the site will be actively marketed to prospective occupiers.

Velocity Website

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Summary Specification

  • Up to 101,000 sq ft gross internal area as 3 units of 25,626, 31,118 and 44,982 sq ft
  • 10 metre clear internal height
  • Level access loading doors
  • 108 car parking spaces
  • BREEAM – targeted “Excellent” rating
  • Planning Permission granted for B1, B2 and B8 uses

Schedule of Areas – Gross Internal

 sq ftsq m
Unit 1
Warehouse22,4622,087
Offices 3,164 294
Total25,6262,381
Unit 2
Warehouse28,8682,682
Offices 2,250 209
Total31,1182,890
Unit 3
Warehouse40,8923,799
Offices 4,090 380
Total44,9824,179
Overall
Warehouse92,2228,568
Office 9,504 883
Site Area4.85 acres