Commercial property specialist Kingsbridge Estates is to create 150,000 sq ft of business space along the M27 corridor following its acquisition of two key development sites in Hampshire.
Kingsbridge Estates has completed the purchase of a four-acre site at Concorde Way, Segensworth, from Hampshire County Council and a 2.5-acre site at New Lane, Havant from McCall Pattern Company Limited.
The purchases respond to substantial demand for business units in the South of England and support Kingsbridge Estates in its strategy of growth through active investment in high quality industrial and mixed-use development across the region.
In the first of the schemes, the West Sussex-based investor and developer will build 10 new industrial and warehouse units with loading facilities and office space at a four-acre site at Concorde Way, Segensworth, close to Junction 9 of the M27 near Southampton.
The units will be developed to a BREEAM “Very Good” standard with sustainability at the heart of design and delivery. Work is due to begin in September. Units, which can be pre-let, vary in sizes from 2,971 sq ft to 20,000 sq ft and will be available to occupiers from April 2020.
Kingsbridge Estates has also purchased the former Buttericks factory in Havant, on the established New Lane Industrial Estate. A planning application has been submitted to develop the 2.5-acre site to provide 12 new units in sizes from 3,000-6,000 sq ft, with the ability for units to be combined as required. It is expected that the units, in two terraces supported by new roads and 122 car parking spaces, will be available to buy or rent from summer 2020.
Vail Williams and CBRE have been appointed as joint agents for both schemes.
Chris Fry, CEO, Kingsbridge Estates, said: “We are excited to announce our plans for these two key schemes, which will provide much-needed facilities and employment opportunities at two well-positioned, established employment sites.
“We are proud to be building on our track record of success in delivering both speculative and pre-let development. We intend to play a significant part in meeting the huge demand for business space across the South of England and have capital available to secure further, similar opportunities across the region.”
Kingsbridge Estates, founded in 2004 and based in Tangmere, near Chichester, has a growing portfolio of industrial developments and holds several office and retail assets.