MULTI-MILLION-POUND plans for an industrial development near Fareham, creating more than 100 new jobs, have been revealed.

 

The development, known as ‘J9 South’, will consist of a self-contained 50,000 sq ft unit near J9 of the M27 in Segensworth, which will be managed by Marick Real Estate.

 

Jerry Vigus, director of capital markets and industrial & logistics at Lambert Smith Hampton, acting on behalf of the developer, said: “This is a strategic site in an established industry/warehouse location where there is a limited supply, and Marick recognises this as an opportunity to provide much-needed space in the mid box market.

 

“It has been widely reported that there is a lack of supply on the south coast, but the region is now experiencing the first real signs of speculative development and ‘J9 South’ is another exciting prospect.”

 

Two acres of land for the development, which was surplus and undeveloped, was purchased from Marine electronics company Raymarine several months ago.

 

Mike Forster, managing director of development at Marick Real Estate, said: “We have been working on this opportunity for some time and have a good relationship with Raymarine which has enabled us to secure the site. We have had great success with the nearby Kites Croft Business Park where we have developed 400,000 sq. ft. including a bespoke 200,000 sq. ft. facility for Estee Lauder. “

 

Marick are currently in discussions with a number of potential occupiers, with commercial rents expected to be in the region of £9.50 per square foot.

 

Neighbouring occupiers at the site include Batley’s Cash & Carry, Estee Lauder, Gestamp and Royal Mail.

 

Councillor Sean Woodward, leader of Fareham Borough Council, said: “Segensworth is a very important employment area in Fareham and further employment space is welcomed.

 

“I will be very keen to see which new businesses will be moving to Fareham into these new facilities.”

 

A planning application is expected to be submitted to Fareham Borough Council later this year.

 

It is estimated that if permission is granted the schemewillbe completed for summer 2018.