Skip Ribbon Commands
Skip to main content

News Release

Southampton

Matrix Park nearing 100% occupation after letting to Amari Plastics

Leading plastics firm will relocate to larger premises


Southampton, February 23, 2015 – Fast-growing Amari Plastics is set to relocate to business hub Matrix Park, near Fareham, following a deal brokered by leading property consultancy JLL.

Amari Plastics has taken 22,378 sq ft at Matrix Park, which is owned by Legal & General Property’s Industrial Property Investment Fund (IPIF), the largest industrial landlord on the south coast.

The plastics business, which is currently based at Hedge End, is moving to larger premises in order to increase capacity for stock and to incorporate a new trade counter into its offering.

David McGougan, director at JLL in Southampton, said the deal was “excellent news for the regional economy”, adding: “Amari Plastics has taken two units at Matrix Park, meaning the site is nearing 100 per cent occupation.

“It is great to see large, quality industrial units being snapped up along this corridor. This deal illustrates continued demand for this type of space in a marketplace where supply is short both regionally and nationally.”

Amari Plastics has taken 22,378 sq ft at Matrix Park, which is owned by Legal & General’s Industrial Property Investment Fund (IPIF), the largest industrial landlord on the south coast.

Following this deal, there is now only one unit remaining at the site, which has just gone under offer. JLL and Hughes Ellard are joint letting agents at Matrix Park. The development of industrial space and warehouses in the Segensworth area, near Fareham, was built in 2004 by Standard Life.

Matt Cowley, centre manager at Amari Plastics, said: “This year marks the 40th anniversary of Amari Plastics and despite the difficult economic climate and other challenges during this period we have remained one of the leading suppliers in our sector. We look forward to moving into our new premises and hope this will give us the foundations to successfully support our customers for the next 40 years.”

Mr Cowley said that the additional space will give the company better stock hold options for customers, as well as facilitating a transition into a ‘one-stop-shop’ in all the areas within which it operates. These are: sign and display; building and construction; and industrial and engineering.

Aaron Burns, leasing consultant at for Legal & General Property’s Industrial Property Investment Fund (IPIF), said: “The letting of units 7 and 8 represents a great start to the year for the fund, especially as it is to a strong company like Amari Plastics Ltd.

“With the last remaining unit now under offer things are looking extremely positive at Matrix Park. Interest has been strong for all our estates on the south coast over the last 12 months and with void rates reducing and ERVs (estimated rental values) continuing to improve 2015 looks set to be a good year for IPIF in terms of activity and overall performance.”