July 22, 2011
The Southern Co-operative has moved its headquarters into a landmark business centre in Hampshire.
Running more than 180 community food stores and funeral homes across southern England that trade under the national co-operative brand, the business has made 1000 Lakeside, North Harbour, Portsmouth, the site of its operational nerve centre.
More than 110 staff relocated to the building’s east wing third floor, having outgrown a four-storey office in a Georgian building five miles away in Fareham town centre.
The Southern Co-operative signed a 15-year full repairing and insuring lease on 17,150 sq ft (1,593 sq m), for an undisclosed rent.
Joint agents Hughes Ellard and Vail Williams represented landlord Highcross.
More than 60 companies and organisations, employing 4,500 people between them, including at IBM’s headquarters, are now based at Lakeside.
The Southern Co-operative’s official arrival this month (July) followed an extensive refurbishment project
Russell Mogridge, the business space director for regional commercial property consultancy Hughes Ellard, said: “The Co-operative is one of the UK’s best-known food brands and is another significant letting for Lakeside.
“The 130-acre landscaped business park continues to attract more than half of all lettings on the Solent corridor since the start of this year, and has become a thriving business hub.
“Occupiers are attracted by competitive rents, high levels of service and the modern, welcoming and inspirational business environment, as well as proximity to the motorway network and major conurbations.”
Highcross director Nick Turner said: “The arrival of The Southern Co-operative underscores the growing reputation of 1000 Lakeside as the business centre of choice for 60 companies and organisations with expansion requirements on the Solentcorridor.
“Occupiers are telling us that 1000 Lakeside has all the right attributes, and further lettings of high-quality office space are in the pipeline.
“We warmly welcome The Southern Co-operative to its new landmark home.”
Richard Stileman, who heads up property and estates at The Southern Co-operative, said: “Finding the right location for any professional company is essential, and the feedback from our colleagues is that 1000 Lakeside is the perfect choice because of the lovely surroundings, extensive car parking, round-the-clock site security and the campus-style buzz.”
He added: “Our new headquarters, across one floor, provides the nerve centre of operations in which to support our 180 community food stores and funeral homes, delivering quality services to our customers.”
Quoting rents at 1000 Lakeside are £17 per sq ft, exclusive of business rates, service charge and VAT.
Other occupiers at 1000 Lakeside include Handelsbanken, Verisona, Astute Technical Recruitment, Tomicca, Regus, Hippowaste, Begbies Traynor, Portsmouth NHS, Market Makers and Education Business Partnership.