Fawley Waterside, New Forest
Description:
One of the UK’s most extraordinary upcoming projects is the redevelopment of a former oil-fired power station in Fawley, Hampshire into a thriving new residential and waterside community.
Fawley Waterside will be ~4m sq. ft., ~£2bn GDV new town integrating a science & technology park.
The mixed-use scheme will offer:
- ~2m sq. ft. residential space across 1,500+ homes
- Up to ~2m of commercial space for ~5,000 workers
It comprises multiple revenue streams including private sale, affordable housing, PRS, office, industrial, retail, marina, and a hotel, all within Europe’s first net-zero smart town.
Located in one of only eight Freeports, it will offer firms extremely generous tax breaks.
The development is set in the New Forest National Park on 3km of pristine coastline, besides the thriving economic hub of Southampton and the Solent, one of Europe’s premier leisure waterways. It will offer a post-COVID lifestyle focused on placemaking, beauty, wellbeing, and ESG.
The opportunity:
At the end of the business plan, investors will own a ~2m sq. ft. innovation campus and ~300k sq. ft. of long-term residential assets in one of the most desirable locations in South England.
The scheme is supported by strong macro fundaments including a flourishing local economy; marine, life sciences, & tech clusters; and an undersupplied property market.
The project is sponsored by Long Harbour, an award-winning investment manager and developer headquartered in London. The firm was established in 2009 to bridge the gap between illiquid asset classes and institutional investors seeking to deploy capital in long-term, income-generating assets.
Outline planning permission for the 142-hectare site was awarded in 2020.
Location:
Fawley Waterside is situated to the west of Southampton Water, seven miles south east of Southampton city centre. There is good road access to the site via the A326 to junction 2 of the M27. The Fawley branch line (currently freight only) terminates one mile to the north.
Planning status:
In July 2020 two outline planning applications for the re-development of the Fawley Power Station site were approved by New Forest District Council’s and The New Forest National Park Authority’s Planning Committee members. The proposals have been brought forward in parallel with the preparation of new Local Plans for both NFDC and NFNPA. The Site is allocated in both draft Local Plans for housing, employment, community uses, recreation and nature conservation. Further details of planning policy can be found on the respective NFDC and NFNPA websites:
New Forest District Council
New Forest National Park
Plot size & estimated employment floor space provision:
Land will be identified for employment uses only on the northern part of the site with mixed uses in the middle and southern parts of the site. The employment space will compromise (‘000 SF):
- Commercial – 2,2023
- Office (Mix of Class B/C) – 465
- Industrial (Class B) – 1,253
- Retail (Class E) – 147
- Hotel (Class C) – 77
- Boat Stack (Sui Generis) – 45
- Civic (Class F) – 36
Landowner: Fawley Waterside
Local authority: New Forest District Council
Development address: Fawley, New Forest, SO45 1TW
You can find out more about our Digital sector here and the Marine and Maritime sector in Hampshire here.
