Associated British Ports has exchanged contracts with Oceanic Estates for Marchwood Industrial Park in Southampton for £89m.
The 120-acre park comprises industrial sheds and is located on the River Test.
In 2005 ABP’s failed application to develop a container terminal at Dibden Bay, a few miles away from the park, wiped £51.5m from its annual pretax profits.
JLL represented Oceanic Estates. Lambert Smith Hampton represented Associated British Ports.
