RO completes successful sale of Waterside Place in Southampton for £11M to Signature Properties

The RO Group is pleased to announce that it has completed the sale of Waterside Place, an iconic collection of waterfront properties comprising three standalone office buildings, to Signature Properties, for £11m. Signature Properties is an investment company based in Segensworth, Hampshire.

The sale highlights the Group’s value-driven approach to unlock property potential and attract buyers and follows the recent sale of One Suffolk Way in Sevenoaks for £6.1m.

Waterside Place is located in Southampton’s Town Quay, a commercial waterfront scheme that incorporates further offices as well as retail and entertainment, and the passenger terminal for the Isle of Wight ferry.

These harbourside buildings benefit from excellent views towards the Solent. 3 and 5 Waterside Place are home to a number of companies with strong connections to the maritime and shipping industries. These include the global logistics company EV Cargo, as well as NMT International Shipping. It is also an important regional governmental centre – as Waterside Place is also a home to the NHS and the Secretary of State for Levelling Up, Housing and Communities.

Nick Cashmore, Investment Director of the RO Group, commented:

“We are delighted to confirm the successful sale of Waterside Place in Southampton. Having recently completed our asset management strategy by concluding the letting of the final suite at a new headline rent, the estate offers the new owners stable income supported by longer term redevelopment potential.

“This transaction reflects our ongoing strategy of unlocking value in our portfolio through opportunistic sales. We now turn our attention to reinvesting the proceeds into strategic acquisitions with focus on the industrial and roadside sectors across the Midlands and South of England.”

Stacey Mahoney, Head of Commercial Property at Signature Properties, said:

“We are pleased to have worked with RO on this strategic purchase of Waterside Place which marks a significant milestone for us, aligning with our long-term growth and investment strategy. The property offers exceptional opportunities for expansion and value creation, in its prime location with modern facilities and strong potential, making it a perfect fit for our portfolio.

“We extend our gratitude to the RO Group and CBRE whose expertise and dedication made this acquisition possible, and we look forward to developing and enhancing the property to serve our new tenants. This purchase reflects our commitment to sustainable growth and excellence in real estate investment and management.”

3 and 5 Waterside Place have recently undergone a comprehensive refurbishment with sustainability and wellness at the forefront, receiving a 2-star Fitwel rating. Fitwel is the world's leading certification system committed to building health for all.

Waterside Place comprises 49,649 sq. ft. over three buildings, all arranged over ground, and three upper floors. The buildings are immediately adjacent to the A33, which is the main thoroughfare through the city, providing excellent road access to the M27 and the M3.

The RO Group was advised by CBRE and Womble Bond Dickinson on this transaction.