2 Charlotte Place calls ‘full house’ for business occupiers

One of Southampton's flagship buildings is now fully let for the first time in 20 years after a letting to sustainability consultancy ERM.
March 16, 2023
A multi-let offices building in Southampton’s business district has called full house on business occupancy following a £1.2m refurbishment programme.

Nine-storey 2 Charlotte Place, comprising 80,000 sq ft of Grade A workspace, is owned by Kingsbridge Estates, which acquired the property freehold three years ago from Columbia Threadneedle Investments for £14.1m.

The latest lettings, by property consultancy Vail Williams on behalf of Kingsbridge Estates, means Charlotte Place is fully occupied for the first time since being built 20 years ago, with the letting of a suite on the fifth floor to sustainability consultancy ERM.

Other occupiers include Utmost Wealth Management, law firm Hugh James, infrastructure consultants AECOM, streaming solutions business MediaKind, planning and development consultancy Turley and law firm BLM.

Companies were drawn to the building due to an extensive refurbishment which offered a “sustainable and dynamic business space, with an EPC rating of B,” said Nik Cox, a Vail Williams partner in Southampton.

A range of green energy improvements were made, including power from 100% renewable sources and electric vehicle charging points, along with shower facilities to promote healthier living through walking and cycling.

Another reason for lettings success was the division into smaller suites, with flexible lease terms, Nik said.

He added: “The fifth floor had never been let until Kingsbridge Estates came in and subdivided the space into three suites as plug-and-play deals.

“This is where the landlord undertakes the fit-out works and provides furnished units so occupiers can move in immediately, with the costs spread over the term of the lease rather than being paid upfront.

“Office landlords which invest in ESG credentials, with thoughtfully designed amenities to suit the post-pandemic hybrid working lives of staff, are attracting environmentally-aware companies – and Kingsbridge Estates is very much leading by example.

“With the latest tenancies, full house can be called at Charlotte Place, for the first time since it was built some 20 years ago.”

City centre leisure accessibility and public transport links were also important workforce location considerations, Nik said.

The only available office space, at 2,500 sq ft on the first floor, is already under offer.

Kingsbridge Estates is a leading developer of commercial and office space with a property portfolio across the South of England.

Rachel Lacklison, Asset Manager at Kingsbridge Estates, said: “Our work at 2 Charlotte Place is a prime example of our commitment to creating exciting and dynamic spaces, adding value to a local landmark building and creating an exceptional office environment.

“Having recognised the huge potential of the building, our significant investment proved instrumental in bringing high calibre businesses into the heart of Southampton.

“We are proud to have reached complete occupancy and look forward to playing our part in the continued success of all the business that have made 2 Charlotte Place their home.”

Leonardo Southampton (formerly Jurys Inn Southampton),  an on-site 270-bedroom hotel with an in-house bar and restaurant, is separate to the offices at 2 Charlotte Place, which also has new reception facilities.