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Southampton

JLL appointed alongside Realest to market high calibre office space at prominent city centre building in Southampton

Cumberland House represents ‘prime opportunity’ amidst lack of quality office space


Southampton, February 4, 2015 – Leading property consultancy JLL has been appointed alongside niche south coast specialists Realest to market coveted office space at Cumberland House, a prominent building in the heart of Southampton’s business hub.
JLL and Realest are acting on behalf of investor Kingsbridge Estates Ltd, which bought the building at the beginning of the year.

Nella Pang, associate director at JLL in Southampton, said: “This is an excellent opportunity in a marketplace where there is a significant lack of quality office space available.

“It is very positive to see space being retained for office use, particularly given the fact that several buildings have been taken out of the market since the introduction of permitted development rights for office-to-residential conversions.”

Steve Williams, director at Realest, added: “The prominence and quality of the property have ensured it has performed well throughout the recent recession, securing Lucite International and Coffin Mew LLP as new tenants.

“As the economy recovers we anticipate even greater demand for a property of this calibre, which is already evident as we have started negotiations with a number of interested parties since the beginning of the year.”

Space currently available includes 6,434 sq ft on the second floor, which has been extensively refurbished, as well as 3,814 sq ft on the ground floor and 6,434 sq ft on the first floor. Work is due to start imminently on a full refurbishment of these floors.

The building also includes secure car parking to the rear and additional parking available in close proximity in Grosvenor Square.
Standard Life sold Cumberland House in 2014 to Helical Bar within a national portfolio. Cumberland House was then sold to Kingsbridge Estates Ltd this year.

Mark Hooper, estates director at Kingsbridge Estates Ltd, said: “We performed the transaction within record speed and completed it within two weeks at the beginning of the year.”

Businesses currently based at Cumberland House include law firm Coffin Mew LLP and Lucite International. Other major occupiers in the vicinity include Old Mutual, Paris Smith and Deloitte.

The building, which overlooks Isaac Watts Park and the civic offices, is close to the central railway station and amenities in London Road, Bedford Place and Above Bar.