Eastleigh Works Sold

[4-SUB 4732]

http://www.eastleighnews.co.uk/2018/01/railway-works-changes-hands-in-20-million-deal/

Key Property Investments (KPI), a joint venture between leading UK developer St. Modwen and Kuwait based Salhia Real Estate Company, has sold the works, currently a multi-let train maintenance facility, to the Corporate Pension Fund clients of Savills Investment Management LLP.

Eastleigh Works, located off Campbell Road, is a massive 47.4 acre site primarily used as a locomotive, carriage and wagon repair works and predominantly let to Arlington Fleet Services Ltd. The site comprises 506,317 sq ft of warehouse space, a three-storey office building and open storage areas.

We must all be thinking it...

 

[DarloRich]

why? Industrial estates change hands all the time.

 

[4630]

Plus road access to the site is not great, so any house builder would have to spend big bucks up front to improve the situation.

 

[Clip]

Be a right ball ache to turn into housing development too plus the story says its currently staying as some sort of industrial site for the time being

 

[swt_passenger]

Routine change of freeholder.

 

[coppercapped]

As the site is right under the flight path and only a couple of hundred yards away from the end of Runway 20 at Southampton Airport, house building doesn't really feature.

 

[DerekC]

There is no indication of use for housing on the Eastleigh Borough Local Plan. However it does show the proposed route of an east to south chord which cuts right across the depot access tracks, so something must be on the cards.

 

[cogload]

The housing allocation for Eastleigh Borough Council has been satisfied with both the Shawford/ Boorley Green developments.

The Works has recently been re-roofed; sits underneath the flightpath and shares part of the site with the depot. Borough council's normally issue a call for suitable sites under the local plan; then the planning inspectorate have their say, AFAIK the Works/depot site was not considered for housing under this. I am sure that EBC would have been delighted to entertain the site as housing had an application been received...

If anything the Airport might eye up the site for a runway extension first.

 

[Carlisle]

If anything the Airport might eye up the site for a runway extension first.

How realistic is that?, I seem to remember years ago the news reporting something along the lines of the nearby shopping centre /cinema would need to be lowered in order to accommodate much larger aircraft

 

[mgmidget1500]

Think this is good news for Eastleigh Works, as St Modwen buy up industrial sites to build houses on them (look at Rover Longbridge), they tend to lease them out until such time as the think they can build houses on them, so if St Modwen have sold it on, I'd guess it's too difficult to get turn into a housing site.

 

[sjoh]

First time really looking around Eastleigh works on google maps, and it strikes me what a strange strange road Campbell road must be to live on.

 

[pompeyfan]

Does anything still come out of the works at Eastleigh South junction? It looks like it’s not been used for years and years. I’d like to see an airport expansion in the long run, but remaining as it is now for the foreseeable is also good.

 

[Carlisle]

Does anything still come out of the works at Eastleigh South junction? .

I thought the only mainline connection was at the north or London end of the works

 

[Ploughman]

How much of the site will be classed as contaminated ground?
After years of being a depot and works I would think Oil and other nasty substances will be present.

 

[pompeyfan]

I thought the only mainline connection was at the north or London end of the works

There is still an up facing connection at South junction, although I’m not sure if it’s connected to Arlington or Arriva TMD.

 

[cogload]

The South Junction connection is to the Depot which is operated by Axiom. Yes it is still used (once a week or so plus occasional turning moves off the yard).

 

[swt_passenger]

Does anything still come out of the works at Eastleigh South junction? It looks like it’s not been used for years and years. I’d like to see an airport expansion in the long run, but remaining as it is now for the foreseeable is also good.

XC ECS from the depot sometimes uses the south connection, but as said earlier it isn’t connected to the works.

 

[Olaf]

No indication of immediate plans for change of use.

New owner for Eastleigh Works
https://www.insidermedia.com/insider/southeast/new-owner-for-eastleigh-works
- 2018-01-11

Tom Scott, director in the investment team at Savills, added: "The warehouse space is well let after considerable asset management undertaken by the previous owner, and there is considerable scope for more value add in the future."

Lucy Winterburn, director of investment at Savills Investment Management, said: "The purchase of Eastleigh Works is a strategic industrial land acquisition for our client with a recognised heritage of rail manufacture and maintenance."

 

[38Cto15E]

As I passed Eastleigh Works on Poole train last Thursday I saw a couple of rakes of modern looking stock alongside, as these were virtually head on I couldn't see what class they were, could they have been Azumas?
TIA

 

[Brush 4]

"We are delighted to have secured this opportunity and relish the medium term redevelopment opportunity that it presents.”

That's the relevant line from the story link. relish - medium term REdevelopment - opportunity.
Not development, redevelopment. Opportunity...... to keep it the same? No room here for naivety. When does the lease expire?

 

[swt_passenger]

"We are delighted to have secured this opportunity and relish the medium term redevelopment opportunity that it presents.”

That's the relevant line from the story link. relish - medium term REdevelopment - opportunity.
Not development, redevelopment. Opportunity...... to keep it the same? No room here for naivety. When does the lease expire?

You’ve commented on a year old story. No evidence locally that it will not be maintained as an industrial zone.

 

[swt_passenger]

As I passed Eastleigh Works on Poole train last Thursday I saw a couple of rakes of modern looking stock alongside, as these were virtually head on I couldn't see what class they were, could they have been Azumas?
TIA

Yes. Has already been mentioned in earlier threads in the rolling stock section. It’s just siding space for final pre-delivery checks. But I think you’re looking at the Arriva traction & rolling stock depot, a separately owned and managed site to the works.

 

[TheGrew]

As others have said I don't consider it to be a worthwhile place to put residential property. If the land were to change hands my money would be on Airport runway extension which would get a mixed reception locally (improved connectivity vs noise).
Regarding what others have said about the shopping centre (swan centre). Whilst it is fairly tall the landing path for aircraft is east of the station (you get a cracking view from platform 3). Broadly planes land over Dutton Lane and the Barton Park Industrial Estate.

 

[HaggisBotherer]

Bet it's already a bit different to my only visit there - behind Tulyar on the Wessex Deltic. Happy days

(For the uninitiated) https://www.flickr.com/photos/55727763@N02/5164296661 (Not my photo but, oddly enough, I'm pretty sure a much younger version of me is in it )

 

[Brush 4]

I just saw Jan 10 201... and assumed 2019.
Still, 1 year isn't medium term. The lease expiry date is the key to this.

 

[Brush 4]

Lease expires at the end of this year. So, an announcement in a few months time. Do the owners have a legal duty to find Arlington a new site or is it just, out by Dec 31 2019. Of course, it could be renewed but, on a short term lease probably.