Construction is starting imminently on Glenmore Business Park, Chichester, signifying a multi-million pound investment by owner Glenmore Commercial Estates, agents Lambert Smith Hampton, Jones Lang LaSalle and Henry Adams announced today.
The first phase of the development is due to complete by the beginning of 2016 and marks the first industrial speculative build seen on the south coast for some time.
The site occupies an important and strategic position on the eastern edge of Chichester and will provide a ‘gateway’ redevelopment for the area.
Guy Jackson, Surveyor of Business Space for Lambert Smith Hampton explains: “Glenmore Business Park is fantastic news for the south coast – with the increase in demand and lack of stock currently available, this development is already seeing high levels of interest. The site will be suitable for a range of different business sectors but it will certainly be attractive to the owner occupiers.”
The park will directly face Chichester Retail Park, which houses tenants including the new John Lewis at Home, Halfords, Carpetright, PC World, Currys, Lidl and Staples. Sainsburys, McDonalds and Pizza Hut are located on the adjacent roundabout and BhS Home and Homebase are close by. The city centre is less than one mile to the west and road, rail, sea and air connections locally, nationally and internationally are extremely good.
Glenmore’s commitment to the area is underlined by their decision to build out the whole of the first phase of this scheme in one go, providing small units ranging from 1,036 sq ft up to units of approximately 10,700 sq ft and 22,610 sq ft.
Tony Morpeth, Group Director of Glenmore commented: “In common with all Glenmore developments, both the smaller and the larger units are available to be bought freehold which provides a unique opportunity in Chichester for owner occupiers. The business park will also provide a powerful stimulus to the local economy and employment base.”
All the units that are being built are available to buy freehold or to lease.
