The shortage of industrial space in Portsmouth will be eased with the city’s first speculative development since the UK’s economic recession of 2008/09.
Pioneer Park is a new £9 million project, brokered by property consultancy Vail Williams and Doherty Baines delivering 70,000 square feet of warehouse and distribution capacity.
The project from Chancerygate is set for construction on a three-acre site on Portfield Road at Voyager Park. It will deliver units available to rent or buy in the summer of 2016.
The choice of properties will range from 5,000 to 47,500 square feet to provide the extra facilities needed in Portsmouth to generate new jobs and economic activity.
Philip Holmes, Vail Williams, said: “We are already receiving strong interest in Pioneer Park, which illustrates the pent-up demand for this kind of industrial space in Portsmouth.
“As the market improved after the economic slowdown we saw rapid take up of existing stock and a drop in the supply of quality industrial space for companies to expand and create new jobs. This is part of the turning point in recharging the city’s capacity to do business.
“As a rare example of what we hope will be a new flow of speculative development, Pioneer Park offers a whole new arena of opportunity for companies to improve their positions, such as investment via pensions and other initiatives.”
Interest in Pioneer Park is partly due to its transport connections via the A27 to the M27 east and west, including Southampton Docks, and the A3(M) to London and Guildford, plus Portsmouth’s cross-channel ferry terminal.
The high quality units will feature full-height loading doors and first floor mezzanines for storage or offices, as well as ample parking and landscaped surroundings.
