Prudential has expanded further its out-of-town development programme with the purchase of a 12.1ha (30 acres) site which has consent for 55,740 sq m (600,000 sq ft) of offices. The site, located on the Solent Business Park between Southampton and Portsmouth at junction 9 of the M27, was acquired from Conrad Phoenix Properties for about £15m.
Construction of the first 6,317 sq m (68,000 sq ft) speculative phase, designed by Michael Aukett Architects, will begin in the autumn. According to the Pru, Conrad Phoenix will remain involved with the project.
Occupiers on Solent Business Park, which was originally developed by Arlington, include Zurich Insurance, Abbey National and Regus.
Knight Frank acted for the Pru in the purchase and is retained as letting agent for the scheme.
EGi News 12/07/00
