Brand-new Proxima Park delivers phase one occupancy

Industrial scheme Proxima Park in Waterlooville is now fully let as Vail Williams turns its attention to phase two of the project.
March 17, 2023
A manufacturer has leased unit 121 and enlarged its footprint by opening up a rear unit, 125, to create an extra 13,414 sq ft.

Family bakers Warburtons were the first occupier in at phase one, signing units 126 and 127 as a depot and totaling 33,400 sq ft.

Phase two is design-and-build offering, with five leasehold units available from 41,441 sq ft to 126,500 sq ft with outline planning consent already in place. There has also been a unit speculatively built totaling 42,786 sq ft which is ready for immediate occupation.

Coopers Fire is the first occupier to pre-let at phase two, with a new headquarters of 45,000 sq ft of factory and offices, along with 108 car parking spaces and five HGV parking spaces.

Vail Williams acted for Coopers Fire, which manufactures and installs automatic fire curtains, fire barriers and smoke curtain systems.

In total, the scheme at Houghton Avenue is 472,400 sq ft.

Proxima Park, named after its proximity to the major road networks, is built to Grade A specifications, with a BREEAM ‘Excellent’ rating, a target EPC rating of A, electric car charging ducts and cycle shelters.

Russell Mogridge, head of industrial agency at Vail Williams, said: “Proxima Park meets the distribution and logistics needs of forward-thinking companies, with a population of more than 1.55 million reached within just 45 minutes – a significant consumer base for occupiers.

“The location is well situated for the main A3(M) route to London, 68 miles away, and the west, via the M27, and east, via the A27.

“Vail Williams was appointed as joint sole agents alongside CBRE on the scheme, based on a successful track record of deals at other similar developments across the region.

“Industry data shows that major investors regard distribution and logistics as a leading asset class to invest in.

“The UK’s exponential growth in online shopping and same-day delivery and just-in-time fulfillment needs, along with a lack of suitable employment land for similar developments in south-east Hampshire, means Proxima Park is well placed to strategically serve companies.”

He added: “The planned development of 3,000 homes in Waterlooville will also increase the local labour pool, providing ‘doorstep’ employment for many families.”

Nick Tutton, Senior Director at CBRE, said: “The estate has been a massive benefit to the Waterlooville area, bringing in a number of new businesses from outside of the town and even county. We have been delighted to advise from the outset of the development and look forward to working on securing new occupiers for the remaining plots at the park.”

An established industrial location, Waterlooville is home to brands such as Fleet UK, Pro Parts, Hampshire Flag Company, Hi-Technology Group, John Rothery Wholesale, TK Maxx, Argos, Home Bargains, Screwfix, Serco and Ensinger.