Acting jointly, leading real estate advisers Vail Williams LLP and Surrey-based property development company Cromwell Holdings have let Unit 2 at 20:20 Vision Park in Petersfield to precision manufacturing company and food industry specialist, Fraser-Nash Ltd.
Fraser-Nash have taken 19,892 sq ft at the modern industrial premises, on a 20 year lease term without any break clauses. The stepped annual rent will rise to £164,000 (£8.25 per sq ft) in the ninth year.
20:20 Vision is now fully let; 10,774 sq ft, Unit 1 was taken by Marshall SDG last year, and the subsequent letting of Unit 2 is of significance, marking Petersfield as a strategic location for businesses to consider when relocating.
Ross Moyler, Partner at Vail Williams in Portsmouth commented: “Both Frazer-Nash and Marshall SDG required accommodation that was not only accessible to London and the South Coast but also provided a working environment suitable for precision engineering operations. The 20-year term agreed on Unit 2 confirms the underlying strength of the market in the area.”
