The former Turner and Newell site in Ringwood has been sold to Morrish Builders for an undisclosed sum.
The site, a former foundry and engineering works, provides 14,756 sq metres of factory accommodation on 6.94 hectares of land. The foundry was previously occupied and operated by Turner and Newell (T&N), which produced engine parts for ocean liners.
Michael Green, partner at King Sturge, which dealt with the sale, said: "The site is ripe for development, particularly being only one and a half miles from Ringwood town centre."
Federal Mogul, an American-owned corporation, which sold the site to Morrish Builders, was unsuccessful in 1999 in its planning appeal to change the use of land for residential purposes.
King Sturge acted on behalf of Federal Mogul. Morrish Builders was represented by Sibbett, Wright, Gregory and Coles.
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