PSIT, recently taken over by MEPC, has acquired 11.23ha (27.75 acre) at the Kites Croft site in Fareham, Hampshire, for £5m from Raychem. Zoned for office use of up to 41,805 sq m (450,000 sq ft), the site will be developed by PSIT as a business park.
PSIT, until it was taken over by MEPC, was in negotiations for a pre-let on the site, a local source confirmed.
But Darren Bradley of PSIT said that all plans are on ice following PSIT’s takeover until “a quick review will decide what to do with it”.
Hampshire County Council has acquired the remaining part of the Kites Croft site, which comprises 3.54ha (8.75 acre), for an undisclosed price. The area is adjacent to a woodland area.
EGi News 19/09/97
