CBRE’s industrial agency team has let Unit 5, Merlin Park to Zidac Laboratories Ltd (“Zidac”), that sees the Hampshire cosmetic manufacturer taking a new 15-year lease at one of the South Coast’s newly developed industrial parks.
Established in 2017, Zidac’s was originally based in Waterlooville and has now relocated the company to Merlin Park as it looks to expand the business.
Merlin Park, a partnership development from British Airways Pension Fund and Canmoor Developments has seen the construction of seven Grade A warehouse / industrial Units ranging from 8,036 sq ft to 20,772 sq ft. The 6.5 acre scheme totals 92,000 sq ft overall and over half the units have now been let.
Commenting on the move, Jurica Weissbarth Director at Zidac said:
“We are delighted to have such well located space in which to relocate the Zidac business. Merlin Park has great road and rail access making it an easy choice for us when we started to look for new premises earlier in the year.
“Now we are moved in, the business has already benefited from additional space and we are looking forward to many years here.”
Commenting on the deal CBRE Advisory & Transaction Services Surveyor Oliver Sherriff added:
“Merlin Park has been a popular location and the scheme is one of the largest speculatively developed industrial parks Portsmouth has seen in over 10 years. Redeveloping a disused brownfield site into much needed employment space has been well received.
“With three lettings completed already this year, there are just three of the seven units available, totalling 34,000 sq ft, but we do not anticipate these being around for long.”