Fiera Real Estate and Wrenbridge achieve 50% occupancy at prime Portsmouth logistics scheme

Fiera Real Estate and Wrenbridge are pleased to announce that their exemplar Grade A logistics scheme Sonar, in Portsmouth has now reached 50% occupancy following the letting of a 16,942 sq ft unit to an advanced maritime systems company.

The scheme offers market leading sustainability credentials such as BREEAM Excellent, EPC A rating, CO2 efficiency, heating and cooling systems, as well as PV panels and EV charging points, giving substantial reductions in energy consumption and associated costs to occupiers.

The site was purchased through the Fiera Real Estate Opportunity Fund V UK (“FREOF V UK”) and benefits from being located between Limberline Road and Norway Road, adjacent to Hilsea Rail Station and moments from the M27, making it one of the best-connected sites in Portsmouth.

Demand for distribution warehouses has remained robust across the UK and market resilience has resulted in positive rental growth, fuelled by the combination of a demand/supply imbalance and the requirement to be located close to the customer. Sonar is helping to fill the gap in the lack of existing Grade A mid-sized supply in the local area. 

One further unit is under offer, leaving four units remaining at Sonar ranging from 5,498 to 18,407 sq ft. With significant interest on all remaining units, please get in touch with our agents to secure the remaining space.

CBRE Southampton and Vail Williams acted on behalf of the landlord whilst Savills acted for the tenant. 

Will Jarman commented: “We are delighted to welcome another international operator to Sonar. There is significant interest in the scheme with another unit under offer. Businesses are recognising the benefits of taking brand new, best connected space.”

Oliver Sherriff, Associate Director at CBRE Southampton, said: “Sonar is one of the most anticipated warehouse and logistics developments in the area and offers fantastic sustainable credentials in a prime location within the city. We’re pleased to report more activity on to the site and anticipate high interest in the remaining units.