Portfolio Holdings has bought a swathe of greenfield land at the 30.3ha (75 acre) Food Science & Technology Park in Cardiff to develop speculatively up to 92,900 sq m (1m sq ft) of business space.
The London-based developer has purchased the 8ha (20 acre) first phase of the scheme from Cardiff council for an undisclosed sum. The development has outline consent for B1, B2 and B8 uses and will have a completed end value of £75m.
The business park will target hi-tech and science-based companies.
Geoff Tipping, chief executive of Foodparks UK, a subsidiary of Portfolio Holdings and the equity shareholder, said: “We’ve bought this site to develop schemes to occupier requirements, but we’re prepared to sell land to occupiers for their own use.”
No tenants have signed as yet, but a regional electronics company is believed to be interested in 2ha (5 acres) on the site.
King Sturge and Fletcher Morgan are advising Portfolio Holdings.
EGi 02/02/00
