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News - 19/07/2018

£10m industrial development that will bring economic boost to Portsmouth and create hundreds of jobs is weeks from completion

Portsmouth is just weeks away from the opening of a development that will create hundreds of jobs by releasing desperately-needed high quality industrial business units in the city.

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Construction is nearing completion on seven new units at Merlin Park, which will become the only new high-specification business accommodation on Portsea Island when the site, off Airport Service Road, opens for business next month. Merlin Park is the city’s largest speculative industrial development in a decade and brings a large brownfield site back into commercial use.

The 6.5-acre site, regenerated by Canmoor Developments, features some 100,000 sq ft of new employment space in units for business, industrial and warehouse uses which all boast unusually large eaves height of nine metres. Lambert Smith Hampton (LSH), joint agents for Merlin Park with CBRE, expect there to be high demand for the units, which are available to occupiers on a leasehold basis.

Guy Jackson, Associate Director – Industrial at LSH’s South Coast offices, said: “Units of this size and quality are a rarity across the south and particularly in Portsmouth, where there is a desperate need for new stock to meet demand.

“Due to the strength of that demand, the accessible location of Merlin Park and the high quality of this development, we experienced significant levels of interest in these units even as they were coming out of the ground. Their height, in particular, makes them attractive to a range of businesses that require modern, spacious, flexible accommodation.

“We are excited to see the units so close to completion and are in discussions with several potential occupiers ahead of the site being handed over in August.”

Tom Hughes, director at Canmoor developments, said: ““Merlin Park is a major speculative development that represents a huge investment in Portsmouth, and confidence in its economy. Merlin Park will bring major employment and economic benefits to Portsmouth, and we are proud to have played our part in the continuing drive for regeneration in the city.”

The seven units, in an area that is home to businesses including BAE Systems, Booker, ScrewFix, ATS, Veolia and The Range, range in size from 8,000 to 20,000 sq ft. Units 4,5,6 and 7 are adjacent and so could be leased to a single occupier to create a space of up to 50,000 sq ft. The site has excellent transport links, with the M27, M3, A3 and Portsmouth Ferry Port in close proximity.

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