Salmon Properties has exchanged contracts with the Homes England to purchase a 2.2 acre site at Hermitage Park, Harts Farm Way, Havant and will develop a £4m scheme.
Salmon will undertake the development of a four-building 33,000 sq ft speculative industrial scheme with units ranging in size from 4,500 sq ft upwards and disposals on a freehold basis.
Salmon’s Paul Stoodley said: “There is a severe shortage of new industrial accommodation in the area and we believe this scheme will address the considerable pent up demand.”
Subject to planning the properties will be ready for occupation units by the end of this year.
JLL acted for Homes England.
