Although many of the commentators on the south coast talk cautiously about the prospects for the property industry, the figures and volume of deals seem to point in only one direction, upwards. What is impressive is that the activity is spread across the region from east to west and covers a variety of locations and sectors. We have trade and industrial parks filling up, pre lets and a tentative start to new development. It is hard to say what the magic ingredient is but the entrepreneurial spirit is alive and well. Just as important is that the local authorities are backing that up by providing plans for city and town centre improvement, notably in
Southampton and
Bournemouth. Apart from these places,
Winchester has suddenly spurted with a raft of
industrial and
office deals. Also, Highcross’ Lakeside North Harbour Business Park had a record year in 2011.
The hope now must be that this is a self feeding process that will grow as confidence courses through the arteries of
south coast business. That is needed to move to the next stage when developers start building again, as some have on small industrial schemes. That now looks more hopeful in Southampton with Development Securities’ plans and the sale of a site by Sir David Murray that will allow a big development.