A total of 30 acres of land at the Port of Southampton is being made available for development by businesses.
The port’s owner, Associated British Ports (ABP), is marketing the 22-acre Redbridge site – which benefits from Freeport status - and also an eight-acre site on Marchwood Industrial Park.
The sites are part of a national initiative by ABP which will see it release more than 1,000 acres to support the UK’s supply chain, manufacturing and renewable energy sectors.
ABP’s Head of Property in Southampton, Ian Henderson, commented: “These strategic sites are capable of attracting a range of businesses to Southampton and create new jobs.
“Redbridge is a prime development site located in the thriving Western Docks. It sits within the Solent Freeport area and will provide tax benefits for businesses locating there.”
It has been estimated that a business leasing a 100,000 sq ft warehouse for 25 years in a freeport location could achieve tax savings of more than £4m in its first five years of occupation.
Marchwood Industrial Park is a well-established industrial site and is already home to more than 60 businesses.
Ian Henderson comments: “Like Redbridge, the Marchwood site has excellent transport links, which make it an ideal base for logistics operators. Business space in strategic locations, like ports, is key at a time where demand outstrips supply. Ports support the supply chain in a unique way, providing access to people, power and property – ultimately building a stronger supply chain with greater resilience to meet customer needs.”
With experienced, in-house resource and a proven track record of delivering substantial infrastructure projects, ABP Southampton is in a unique position to facilitate rapid planning and development.
The growth of online retailing is creating unprecedented demand for logistics space. The UK currently has the third highest e-commerce penetration ratio globally at 24% with annual online spend of approaching £100bn. The online spending ratio is forecast to rise to 32% by 2025. It is estimated that for every additional £1bn of online spend around 1m sq ft of logistics space is needed to fulfil delivery.
ABP has appointed leading commercial property consultants, Colliers and Lambert Smith Hampton to act as agents and to advise on the project.
Information on the Redbridge site can be found here
Information on the Marchwood site can be found here