Hollis Hockley's Year: A Look Back on 2008 ....

9 January 2009

As we look back on 2008, the Hollis Hockley partners are exceptionally pleased with the first full year following the merger of the Hollis Hockley business' in September 2007, cementing the firm's position as a major commercial property consultancy in the M3 corridor.

The business has dispensed advice to Landlords and occupiers across a broad spectrum of business sectors on many of the key transactions concluded along the M3 corridor during the year, including the following:

·         Achieving the largest office transaction throughout central southern England for 8 years at IQ Farnborough by concluding a pre-let to Fluor, the US engineering company. Fluor will occupy four buildings at IQ Farnborough comprising a total of 210,000 sq ft, which are scheduled to complete in early 2010. Hollis Hockley are joint letting agents to SEGRO on the 125 acre business park.   

·         Achieving the highest headline rent in Basingstoke for office premises, following the letting of South 60, Chineham Park to Talaris in October. Hollis Hockley act as joint letting agents on behalf of MEPC at Chineham Park.

·         Appointed as joint letting agents by CIT on Form (120,000 sq ft), Bartley Wood Business Park, Hook and agreeing terms with Lenovo and Serco at record headline rents immediately on the completion of an extensive refurbishment of this major office scheme.

·         Acquiring Pratt & Whitney's former engine repair facility at Southampton Airport comprising approximately 65,000 sq ft on behalf of PEI Genesis, a global specialist in the assembly and distribution of military and commercial connectors. The deal is the largest industrial lease transaction concluded on the M27 corridor in 2008. Hollis Hockley also advised PEI Genesis on their exit from their Basingstoke premises which was achieved "back to back" with the Southampton acquisition.

·         Letting Centurion (Basingstoke), a 107,000 sq ft warehouse facility to Hitachi Transport System on behalf of Hermes Real Estate immediately following the refurbishment of this 1976 distribution facility. The transaction completed in May and remains the largest industrial deal agreed on the M3 corridor this year.

·         Concluding the largest town centre office letting in Farnham at Wey Court, totalling 22,000 sq ft. The building was let to Ashgate Publishing and local accountants, Wise & Co, at rents of £20 sq ft.

·         Acquiring  a 42,000 sq ft design and build warehouse facility on behalf of Lansdon at SEGRO's new J4 warehouse scheme at Stanhope Road in Camberley. Hollis Hockley are joint letting agents on J4.

·         Advising L3-ASA, a major US defence contractor, on the lease acquisition of a new 14,000 Sq ft European HQ at Rusint House, Ancells Business Park, Fleet.

·         Leasing 16,000 sq ft of additional office space to Huawei Technologies at Jays Close, Viables Business Park in October as the communications company, headquartered in China, continues to expand following the initial selection of Basingstoke as its preferred UK Head Office location in 2005.

In addition to the headline news roundup above, the business has also been very active with many other occupational and investment transactions and continues to build on a strong market position in rent reviews, specific property consultancy work and development and investment advice.

Partnership level advice from individuals with many years experience of the M3 commercial property market remains a key offer to all existing and new clients of Hollis Hockley.

We look forward to continuing to achieve strong results for all our clients as we face a challenging economic environment in 2009.