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Landmark Offices in Portsmouth Get the Go Ahead
Exchange agreed on city's first major office scheme for ten years
29 November 2006
The South East England Development Agency (SEEDA) is pleased to confirm that the second phase of the site known as 'Johnson and Johnson' has proceeded to exchange.
Shepherd Developments and Durngate Property Group, advised by Strutt and Parker and Savills, have exchanged contracts to purchase the site which has been sold by a consortium of public sector landowners led by SEEDA and including Portsmouth City Council and the Highways Agency. The vendor was represented by Hellier Langston.
In the first major office scheme in the area for 10 years, 11,600 sq m (125,000 sq ft) of high quality offices is planned for the two hectare (4.9 acre) site. The development will be located on a prominent gateway to the City, at Junction 12 of the M27 in Portsmouth. This is the former site of healthcare product company Johnson and Johnson. A planning application will be submitted shortly.
The site will be developed in two phases with a speculative start scheduled for the second quarter of 2007 and completion in summer 2008.
Development Projects Director at SEEDA, Peter Cusdin, said: "The development of two highly visible, environmentally efficient, office buildings on this site completes the redevelopment of the former Johnson and Johnson site. It will create a major landmark and represents a significant private sector investment in Portsmouth, facilitated by SEEDA’s investment and close working partnership with the City Council and the Highways Agency."
Charlie Chappell, Partner at Hellier Langston said: "Following a tremendous amount of hard work by both our clients and the purchaser, we are delighted that this important site will be the subject of such an exciting landmark office development."
Mike Hancock, MP for Portsmouth South and Executive Member for Planning, Regeneration and Economic Development at Portsmouth City Council said: "This development will provide great opportunities for job creation in the Portsmouth area. We are delighted that SEEDA has confidence in the area and pleased that our strong partnership is paying off."
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