Waterlooville logistics park reaches full capacity as new speculative units near completion
The first phase of the Grade A logistics scheme Proxima Park is back up to 100% capacity following the letting of 27,985 sq ft unit to a specialist drainage supplier.
Proxima Park, in the Newlands area of Waterlooville, is a key industrial estate on the South Coast, which has delivered approximately 200,000 ft2 of prime industrial and logistics space since its inception in 2020. It is home to several major occupiers, including Rentokil, Pelham and Kite Packaging, and is managed by Delancey, the UK-focused real estate investment and development advisor.
The latest letting was completed by joint agents CBRE and Vail Williams and is announced as the new speculative development of Unit 510 and 520, which offer 44,681 and 52,926 sq. ft. of space respectively, nears completion.
Unit 520 is already under offer, showing the depth of demand in the area.
Oliver Sherriff, Associate Director at CBRE Southampton, said: “Availability of new, high-quality industrial and logistics space remains limited on the South Coast. The number of developments under construction has also dropped over the last couple of years due to a lack of suitable sites coming forward. Developments like Proxima Park are key to ensuring occupiers have the ability to grow and thrive in this area.”
Matt Ellis, Asset Manager at Delancey, said:“There is clear demand for new, energy-efficient Grade A units which meet the discerning requirements of the logistics sector in south-east Hampshire, which is demonstrated by the lettings success we have seen at Proxima Park. We look forward to the completion of the new units and working alongside our future tenants to deliver best-in-class space that meets their specific requirements."