MARINE electronics company Raymarine is set to move out of Portsmouth.
The company, which has leased a purpose-built building in North Harbour for the past two years, has bought a unit roughly half the size in Segensworth.
It is understood Pall Europe, which has been looking for new premises for the past three years, has bought the Raymarine building.
Raymarine is one of the world’s largest suppliers of marine electronic products to the leisure boating market.
But Raymarine Plc went into pre-pack administration in May last year, and its shares in Raymarine Holdings Ltd were sold to FLIR Systems, a world leader in thermal imaging products.
Raymarine Plc was officially brought out of administration in July last year and the directors placed it into Members’ Voluntary Liquidation.
Raymarine Holdings Ltd has continued to trade, and this week announced it would be exclusively supplying Seaward Marine Ltd.
It could take up to six months for Raymarine to move out of the 77,000sq ft Marine House with its 44,000sq ft warehouse.
The Solar building is 62,907sq ft, and has its office space and R&D space on two floors in one building.
Meanwhile, Pall, which has its European headquarters in Portsmouth, signed on the dotted line to buy Marine House for an undisclosed sum on Friday.
The sale represents a like-for-like deal, as Pall’s current headquarters is of a similar size to Marine House, thought without a separate research and development warehouse.
Ross Moyler, director of Vail Williams commercial property agents, which worked on behalf of Telsis to secure the Solar sale, said: ‘This is actually fantastic news for the market, because it’s two big transactions happening in the region.
‘From where I sit this is very positive news.
‘The Raymarine building could have sat there empty, but this means it will be taken up straight away.’
It is not known what is going to happen to Pall Europe’s current 80,000sq ft headquarters in Havant Street, Portsmouth.