Slough Estates has bought the former Blueprint site in Portsmouth from SecondSite Property Holdings for an undisclosed sum.
The site, which is one of the largest industrial sites in the South East, covers 32.3 acres and has development potential for up to 530,000 sq ft.
The scheme, to be known as Voyager Park, will be developed with a mix of freehold, leasehold and purpose-built properties and will have a fully developed value in excess of £40m.
Slough Estates is preparing planning applications for the first two speculative phases of development, one freehold and the other leasehold.
The buildings will range in size from 2,500 sq ft to 30,000 sq ft. This will leave land available for design and build projects of up to 320,000 sq ft, which will also be offered on both a freehold and a leasehold basis.
Mike Wilson, Slough Estates’ regional director for south London and southern England, said: “The Blueprint site, with its outstanding transport links and central location, is an excellent addition to Slough Estates’ portfolio in southern England.”
He added: “Slough Estates has worked very closely with SecondSite Property Holdings in the remediation of the site prior to completion of the purchase.
“As a developer, Slough Estates has considerable expertise in the regeneration of brownfield sites.”
Slough Estates has appointed Vail Williams, DTZ Tie Leung and Young and Butt as its agents for the new Voyager Park development.
DTZ Debenham Tie Leung acted for SecondSite Property Holdings during the sale
References: EGi News 28/04/05
