ABP releases land at Southampton

Colliers and Lambert Smith Hampton have been appointed by the port operator to create around 700,000 sq ft (65,000m²) of manufacturing or logistics facilities at two locations split across the Redbridge site and Marchwood Industrial Park.

“These strategic sites are capable of attracting a range of businesses to Southampton and creating new jobs,” said ABP’s head of property in Southampton, Ian Henderson.

“Redbridge is a prime development site 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 (9,300m²) warehouse for 25 years in a freeport location could achieve tax savings of more than £4m (€4.75m) in its first five years of occupation.

The growth of online retailing – currently generating nearly £100 billion (€119 billion) in the UK – is creating unprecedented demand for logistics space.

Some estimates calculate that for every additional £1 billion (€1.2 billion) of online spend around 1 million sq ft (93,000 m²) of logistics space is needed to fulfil delivery.