Surrey & Hampshire

Surrey & Hampshire is one of our smallest markets in terms of warehouse stock. The region is near London and spans from the A3, inside the M25, to Basingstoke on the M3. While the region is excellently located, it does suffer from limited land supply, high land values and an expensive labour market. Basingstoke, Weybridge and Kingston-upon-Thames provide direct access to London which attracts a variety of occupiers, whereas areas further out such as Danes Hill provides a hub for manufacturing and production businesses, and Houndmills typically attracts distribution businesses. Certain locations in the region are well situated to service the core London and South East markets and it has proved popular as a location for ‘last mile’ delivery.

Occupier and development activity was limited in 2020. Hermes let space at Logistics 15 in Weybridge and Manning Impex, a food importer from south east Asia, took an assignment of a lease in Camberley, but aside from that, occupational activity was muted. Newlands Developments’ Basingstoke Gateway and Prologis Park Brooklands have the capacity to accommodate occupiers, and St Modwen are speculatively developing a couple of mid-box units at St Modwen Park Basingstoke. These schemes have the potential to increase the rental profile of the region, with strongest growth of 1.2% per year over the next 3 years expected in Basingstoke.