Barwood Capital and Taurus Developments have completed the latest steps to enable swift delivery of a new state of the art industrial/distribution complex on Stanbridge Road, Havant. Planning permission for the new 120,000 sq ft building on the site of the former Pfizer distribution centre on New Lane Industrial Estate has been approved by Havant Borough Council.
The redundant buildings that once stood at the five acre site on Stanbridge Road have now all been demolished, leaving the site ready for immediate development. Dependent on occupier requirements this could be constructed as one building or flexible multiple units.
Ed Henson of Barwood Capital commented; “Progress continues to be made at Stanbridge Road and the site is now fully prepared for development. Velocity is a key development for our investors as we look to deliver superior returns through the development process”.
Michael Gibbens of Taurus Developments added: “The market continues to struggle with lack of supply of mid-sized and larger quality industrial stock. We now have a cleared site ready for development and a planning application that allows us to build up to 120,000 sq ft of space with a minimum eaves height of 12m. With Barwood Capital fully funding the development, we can move quickly in response to increasing activity in the occupier market. With Havant town centre set for major redevelopment, this is a prime employment site both for Havant and the wider M27 and A3(M) corridors.”.
CBRE and Colliers International are the appointed letting agents on the scheme.
