QinetiQ, represented by Holloway Iliffe and Mitchell and Vail Williams, has let 5,355 sq ft (497 sq m) of office space at the National Maritime Systems Centre Innovation and Collaboration Hub, on Portsdown Technology Park in Portsmouth, Hampshire to Metaverse VR.
Metaverse VR, which provides immersive digital training services for the public and private sectors, has taken the third-floor accommodation on a ten-year lease. Two partner companies, contracted to Metaverse VR, will occupy part of the space.
The Innovation and Collaboration Hub was developed by QinetiQ in partnership with the Solent Local Enterprise Partnership, with the aim of attracting new and fledgling start-up businesses that operate in the defence sector and creating reciprocal business opportunities with similar occupiers.
Philip Holmes, QinetiQ’s Senior Estates Surveyor, said: “This is a key letting for QinetiQ and Portsdown Technology Park, as it fulfils our commitment to let space within the National Maritime Systems Centre Innovation and Collaboration Hub to a range of innovative start-ups and SMEs within the maritime and defence sectors and work with all the tenants to create business opportunities that benefit all parties.”
According to Claire Jones, the COO of Metaverse VR, Portsdown Technology Park provides the company with the benefit of accessing a secure facility that is usually associated with bigger firms, providing the business with a strategic edge.
“Locating to Portsdown Technology Park also provides us with access to high-end support facilities such as meeting, and conferencing accommodation, which can be used on an as-needed basis, making it a great base for us as a tech-focused company,” she said.
“Establishing our Defence headquarters at Portsdown Technology Park affords us the opportunity to develop our immersive training solutions in a hi-tech, collaborative space, significantly helping us support our customers throughout the UK,” she added.
Tom Holloway of Holloway Iliffe Mitchell commented: “The transaction reflects not only the demand being seen in the M27 market for adaptable and accessible office space of this nature by the defence sector but also the quality of the accommodation available at Portsdown Technology Park.”
Rachael Randall, Chair of Solent Local Enterprise Partnership, added: “The National Maritime Systems Centre Innovation and Collaboration Hub is bringing together occupiers from across the maritime, technology, security and defence sectors, and the arrival of Metaverse VR at Portsdown Technology Park helps cement the development’s reputation as a centre of excellence, providing an outstanding business environment to promote our region’s prosperity.”
Funding from the Solent Local Enterprise Partnership was provided through the Local Growth Deal. Growth Deals provide funds from the Government to local enterprise partnerships (LEPs) for projects that benefit the local area and economy.
