Property developer Kingsbridge Estates has bought a key employment site in Poole, Dorset, from Siemens for £7.75m.
The 10.7-acre site at Sopers Lane is just north of the town centre within a designed employment zone in the Poole Local Plan. It had been used by Siemens for the design and manufacture of telecommunications and electronic equipment for more than 50 years.
Kingsbridge Estates will now work closely with occupiers and local stakeholders to bring forward proposals for a phased development.
Kingsbridge chief executive Chris Fry said: “This acquisition is in line with our mission to create sustainable schemes that help meet high levels of demand for quality commercial space across the South.”
DTRE and Freeths advised Kingsbridge on the purchase; CBRE and Osborne Clarke advised Siemens.
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