Chichester sees unprecedented industrial and warehouse development
Chichester, along with much of West Sussex has been blighted by a genuine dearth of built available industrial and warehouse supply in recent years. As demand grew for suitable industrial property, occupiers have been forced to either compromise when looking for alternative premises or delay moving, as more suitable options have not been available.
Chichester however, has experienced considerable development in the last 24 months.
Approximately 220,000sqft has been constructed during this period, with a further 110,000sqft due to be completed within the next 12 months.
Three significant sites to note are Glenmore Business Park, Cedar Trade Park and Chichester Business Park.
Phase one of Glenmore Business Park, totalling approximately 80,000sqft, was released to the market in early 2016.
Much of this supply was absorbed swiftly due to the latent demand in the market from a combination of owner occupiers and investors.
Phase two is close to completion, which has released another 105,000sqft into the market.
A significant amount of the development from phases one and two comprises smaller units of between 1,000 to 2,000sqft which make them ideal for start-ups and local businesses.
Much of phase two is now available to let providing much needed high quality space for potential occupiers.
Cedar Trade Park, which fronts onto Chichester’s prime industrial location at Terminus Road, is also nearing completion.
This will release another 17,500sqft of warehouse and trade-counter supply into the market.
The scheme is geared toward trade counter occupiers.
Finally, Chichester Business Park, located on the outskirts of the city will see the development of 40,000sqft of brand-new industrial/warehouse accommodation, due to be completed in April 2019.
20,000 sqft of this has already been pre-let with advanced talks being held for the rest of the space.
Moreover, the business park has plans for an additional small unit scheme totalling approximately 65,000sqft with units ranging from 2,000 to 5,000sqft.
Mikael Goldsmith, of Flude Commercial, said: “It is fantastic to see the development of new warehousing and factory accommodation in and around Chichester, especially when considering the shortage in other parts of the county and surrounding areas.
“We anticipate that the available space will be well received bringing new business and enterprise to the city.”
For more information or to discuss your property needs, contact Flude Commercial’s Chichester office on 01243 819000, Portsmouth office on 02392 629000 or Brighton office on 01273 727070, or visit www.flude.com.