A LEADING supplier to the F1 and aerospace industry has secured new premises in Havant.
Component and tooling supplier Monolution has invested more than £1m into a one-acre site with 18,500sq ft of premises space, at Southmoor Lane.
The company is expanding its operation and will relocate from its existing site in Downley Road.
The move is expected to create eight jobs over a one-year period and is being done because the company has outgrown its current premises.
Industrial commercial property specialists at the south coast offices of Lambert Smith Hampton (LSH) acted for Monolution in the transaction.
Guy Jackson, associate director for the south coast industrial team at LSH, said: ‘Monolution has established itself as a leader in its sector and we were pleased to be able to help them find new high-quality premises that will allow them to grow even further.
‘The company was keen to stay in Havant and this new location is particularly appealing in terms of accessibility as it sits at the crossroads of the M27 corridor and the A3 corridor.
‘Havant Borough Council is a keen supporter of enterprising business and we were pleased that the planning permission process ran as smoothly as possible.
‘The Broadmarsh and Southmoor industrial estates are one of Havant’s success stories and continue to go from strength to strength in supporting the regional economy.’
The acquisition of the site in Southmoor Lane required planning consent for B2 (general industrial use) from B1 (business) and permission was recently granted by Havant Borough Council.
Monolution specialises in the manufacture of components, composite tooling and jigs and fixtures.
The company was primarily conceived to support a number of F1 racing teams but has since expanded and grown to support the aerospace and automotive sectors.
Dean Cleverley, director at Monolution, said: ‘We currently employ 31 staff and following several years of increasing demand we came to the point where we had outgrown our current site at Downley Point.
‘We are excited about moving on to the company’s next chapter and growing the business even further. Our new site perfectly matches our requirements and I would like to thank the team at LSH for making it happen.’