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Frobisher, asset manager to UBS Triton Fund, has obtained planning consent for development of a 43,000sq ft high-bay distribution unit on Walworth Industrial Estate, Andover. The existing buildings will be demolished and the site cleared ready for construction once a pre-let is secured. Joint owners Vail Williams, Dreweatt Neate and Hollis Hockley will shortly be commencing a pre-let marketing campaign.
The new unit will have ten meter eaves and seven loading doors. The site lies in a distribution location 1.2 miles from the A303, providing access to the M3/M4 motorways. The next phase of the development follows a number of recent lettings totalling over 150,000 sq ft within UBS' Walworth Initiative starting with the letting of 30,000 sq ft to Dreams PLC and 24,000sq ft to Able & Cole.
Jason Webb of Vail Williams said "Traditionally the Andover market has been held back by poor quality stock which does not meet modern occupiers' requirements. The recent lettings, as part of the Walworth Initiative scheme, have underlined the fact that the demand exists in Andover, both from existing occupiers and from occupiers outside the town when high quality stock can be provided".
Within scope of UBS' Walworth Initiative sites are available for construction of a high-bay warehousing from 40,000 sq ft on a pre-let basis.