Construction contractor MCS Group has secured a £7.5m contract to deliver a speculative development of 11 industrial units in Hampshire.
The 11 units, totalling 104,000 sq ft, form phase one of a five-phase 500,000 sq ft development on the 25-acre site at Proxima Park, Houghton Avenue, Waterlooville. Units range in size from 3,000 sq ft to 20,000 sq ft and will be available on a leasehold basis.
West Midlands-based MCS Group has been appointed by developer Equation Properties, which acquired the site in 2017. Construction is underway and is expected to reach practical completion in in Q4 2019.
MCS Group managing director Keir Edmonds said: “Proxima Park is an exciting new speculative development of 500,000 sq ft of industrial and warehouse space in an area where there is pent-up demand for high quality accommodation.
“We are looking forward to delivering phase one of the development, amounting to 11 units, before the end of the year. This is our first project working alongside Equation Properties and we hope to build a successful and long-term relationship with them.”
Nick Redwood, of Equation Properties, said: “We are delighted that MCS has been appointed as main contractor for this project after winning this in competition with a number of other national contractors. We have been very impressed with their approach right from the first meeting we had and look forward to them completing this first phase at Proxima Park. This is a fantastic site in an excellent location and we are expecting a good level of demand.”