The shortage of industrial space in Portsmouth could be eased with the city’s first speculative development since the economic recession in 2008.
Pioneer Park is a new £9 million project, brokered by property consultancy Vail Williams and Doherty Baines, delivering 70,000 square feet of warehouse and distribution capacity.
The project is set for construction on a three-acre site in Portfield Road, at Voyager Park.
It is hoped that the project will be complete to offer units to rent or buy from next summer.
Businesses will have a choice of premises ranging from 5,000 to 47,500 square feet, which will provide extra facilities needed in Ports-mouth to generate new jobs and economic activity.
Philip Holmes of Vail Williams said: ‘We are already receiving strong interest in Pioneer Park, which illustrates the pent-up demand for this kind of industrial space in Portsmouth.
‘As the market improved after the economic slowdown we saw rapid take-up of existing stock and a drop in the supply of quality industrial space.
‘This is part of the turning point in recharging the city’s capacity to do business.’
The project will offer high- quality units, which will feature full-height loading doors and first floor mezzanines for storage or offices, as well as ample parking and landscaped surroundings.
For more info visit vailwilliams.com.