A developer was chosen this week to build a rare speculative office scheme in Portsmouth.
The South East of England Development Agency selected Durngate Property Group and Shepherd Developments to develop a 125,000 sq ft office complex, the city’s largest for five years.
The 4.1-acre former home of Johnson & Johnson lies at the entrance to Portsmouth city, next to junction 12 of the M27.
Durngate/Shepherd plans a 51,000 sq ft office first, followed by a second phase of up to 74,000 sq ft in six storeys.
Austin Adams’ Portsmouth head of agency Peter Hall said: “It’s a brave move but a very important one for the regeneration of Portsmouth. The quality of stock is extremely limited.”
Earlier plans to build offices on the first 6.7-acre chunk of the Johnson & Johnson site were abandoned by Asda Property and Cirrus three years ago because of lack of office demand. They built a 125,000 sq ft industrial scheme instead.
References: EGi News 24/10/05
