Lakeside nets 11,259 sq ft letting with top insurance broker
Second-largest deal on the Solent corridor
AN INSURANCE company is moving to bigger offices after success during the pandemic.
Lakeside North Harbour has secured its second-largest deal on the Solent corridor since the last Covid-19 lockdown, as insurance broker Markerstudy Broking takes 11,259 sq ft of space.
The relocation of Markerstudy Broking’s pet, gadget and ancillary insurance business from its current premises in Kingston Crescent, Portsmouth, follows an 18-month period of rapid growth as pet ownership soared during the pandemic.
Markerstudy Broking’s pet insurance business provides pet insurance to UK high street brands and insurers, as well as direct brands Purely Pets and Petwise that reached the milestone of more than 100,000 customers in 2021.
The five-year deal also comes at a time of strong economic growth in Portsmouth, as new data from Portsmouth City Council reveals a growth rate of 0.5 per cent in August, higher than the national average (0.4 per cent).
Markerstudy Broking is expected to relocate to Lakeside next month and will join a diverse collection of existing occupiers including IBM, Virgin Media, The News and Capita.
Simon Bateman, asset manager at Lakeside North Harbour, said: ‘Lakeside North Harbour is securing rising attention from highcalibre businesses for its unique proposition; our fiveyear deal with Markerstudy Broking is a reflection of this, as well as Portsmouth’s strong economic performance and increased confidence in businesses in investing in office space following the pandemic.’
Approximately 150 employees will be based in Markerstudy Broking’s new dedicated telephony and digital customer service centre at Lakeside.
Ross Hallifax, affinity director at Markerstudy Broking, said: ‘Our team has expanded substantially over the last 18 months following a period of rapid growth and increasing customer demand. This is due to continue into 2022 and we’re excited about the opportunities this will bring to our business.
‘Our current premises are no longer fit for purpose; we needed attractive, modern space that would enable us to continue to deliver exceptional customer service, while also having the room to continue to grow.
‘Lakeside was the ideal choice for us, and presented a great opportunity for a ‘new beginning’ in the New Year to drive the business forward.’
Vail Williams acted on behalf of Lakeside North Harbour to secure the deal.