Terrace Hill sells part of Christchurch Business Park

  Terrace Hill has sold part of its Christchurch Business Park in Dorset to mobile phone distributor Kondor and has entered into a development agreement to build a new warehouse on the site.   Kondor has bought a 2.15 acre site at Christchurch Business Park, which Terrace Hill will develop into a 59,740 sq ft warehouse building as part of a £5m deal.   The new building will include 12,740 sq ft of offices over three floors.  It is the largest warehouse deal in Dorset for 15 years.   Philip Leech, chief executive of Terrace Hill, said: “The land sale ahead of the construction of a warehouse at Christchurch Business Park is a major deal and marks an important stage in the development of the site.   “Additionally, it clearly demonstrates our ability to identify and acquire suitable sites and to create attractive developments for potential tenants or owner occupiers.   “This type of deal allows us to create value through all phases of the development process without the risks associated with speculative development.”   Terrace Hill said it has planning permission for a further 48,550 sq ft of B1, B2 and B8 accommodation at Christchurch Business Park and is in discussions with a number of other potential occupiers.   nick.whitten@estatesgazette.com   To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.