Southampton: RO Real Estate to rebrand Town Quay offices
Commercial property investment and development company RO Real Estate, which acquired 3-7 Town Quay in Southampton from TH Real Estate, is to rebrand the scheme Waterside Place. The three office buildings which total 48,441 sq ft are currently 90% occupied by tenants including Lloyds Bank.
The rebrand to Waterside Place coincides with a major refurbishment programme to improve the overall site including better on-site amenities and improved access to the waterfront. Starting with the second and third floors at 5 Town Quay, the buildings will be substantially upgraded to meet the needs of the modern occupier and are expected to be ready for occupation early next year.
The properties, which are situated on the harbour front with views across the marina and river estuary, form part of the larger Town Quay development along the waterfront which incorporates offices, leisure facilities and the Red Funnel passenger terminal. The prominent location, on-site parking, excellent transport links and connectivity to the city centre make Town Quay a much sought after destination.
Commenting on the rebrand and acquisition, Nick Moore, senior investment manager at RO Real Estate, said: “We are pleased to have added Waterside Place to our portfolio, particularly given the shortage of premium office space in Southampton. Once the refurbishment programme and estate improvements are complete, Waterside Place will offer an excellent office environment to complement its Waterside location and will appeal to occupiers looking to relocate into high quality office space.”
CBRE acted on behalf of RO Real Estate during the acquisition process and has been appointed joint agent with Hughes Ellard to market both the second and third floors at 5 Town Quay, Waterside Place.
