Hughes Ellard - Offices Development - Southampton, Hampshire

Date: 23 Apr 2008

A £8 MILLION office for up to 250 people is set to be built near Southampton in Hampshire within eight months.

Two-storey Phoenix House aims to relieve pent-up demand for high-quality space on the western side of the M27 business corridor.

The state-of-the-art building at the Botleigh Grange office campus, Hedge End, marks the first speculative development of its kind locally since 2002 and will be 23,560 sq ft in size.

Work has already begun with the site leveled in readiness for the foundations to be put in.

Russell Mogridge of Southampton-to-Portsmouth commercial property agency Hughes Ellard, which is driving the scheme, said: "The development is the first speculative one of its kind locally in six years and will provide accommodation for up to 250 people.

"There is pent-up demand for quality category A office space on the western side of the M27, and Phoenix House was born with this pressing need in mind.

"The £8m scheme is set to be completed by mid-December. It is fantastic news for the market and keen interest is already being show from various parties."

Hughes Ellard is to market Phoenix House, which is capable of being sub-divided and has space for 95 cars.

The developer is Wyncon, which has a track record in successful commercial property developments across the UK, including Whaddon Business Park at Salisbury and Highgrove Industrial Park at Portsmouth.

Bob Stoyle of Wyncon said: "We have every confidence that businesses will be flocking to prestigious Phoenix House because of what it offers in the way of quality office space.

"There other factors as well - the proximity to the M27 motorway and the local railway stations of Hedge End and Botley and the fact that Phoenix House will have some of the best-known companies in Hampshire as neighbours."

Funding is being provided by London-based SPREFS, a property investment consultancy, while the builder is Fareham-based Amiri Construction.

Phoenix House will rise on two acres of land that has been sold for an undisclosed sum to Wyncon by Southampton heating firm Dimplex, which is headquartered across the way.

The Botley Grange business park campus is one of Hampshire's employment hotspots, with upwards of 1,000 people working for household names like Lloyds TSB Bank, support services giant VT and nationwide opticians Specsavers.

Other businesses include insurer Zurich, law firm Clark Wilmott, State Securities and Hill McGlynn.

The previous speculative development at Botley Grange was 30,000 sq ft Burlington House.