The largest office occupier transaction in Southampton since 2007 has been agreed by insurance company Ageas for B&Q’s former headquarters.
Ageas is believed to have paid just over £6m for the vacant 87,308 sq ft Portswood House on Hampshire corporate park, Chandlers Ford. It will use the building for its own occupation.
The occupier deal is the largest since cruise operator Carnival signed a prelet for 150,000 sq ft at 100 Harbour Parade five years ago.
Ageas is expanding, and will move from its existing offices at Fortis House, also in Chandlers Ford, where it occupies around 45,000 sq ft.
Jason Webb, director at Jones Lang LaSalle in Southampton, which advised the vendor, LaSalle Investment Management, said: “This is one of the most important office transactions in recent years. Many buildings of a similar age in the Southampton market have been lost to alternative uses, and it is also good to see a locally based international company expanding in the area.”
CBRE represented the buyer.
joanna.bourke@estatesgazette.com
