| A Sealed Deal at Prominent Portsmouth Development |
An artist impression – the prestigious office space at the gateway to Portsmouth. Wed 16th May 2007/ID46 Junction 12, M27Shepherd Developments and Durngate Property Group have clinched one of the largest pre-letting deals in Portsmouth for over a decade. Raymarine plc, a global leader in the supply of electronic products to the leisure marine industry, has just signed a lease for 111,000 sq ft of office and industrial space at the former Johnson and Johnson site in Portsmouth. At the gateway to Portsmouth just off the M27 at Junction 12, the development will provide the marine leisure specialists with 76,000 sq ft of office space and a further 35,000 sq ft of industrial space for its engineering, R&D, repair and test centre operations. The 350-strong Raymarine team is set to move to their new home in December 2009 from their existing sites at Quay Point and Anchorage Park in Portsmouth. Malcolm Miller, chief executive for Raymarine, said: “We pride ourselves on being at the forefront of marine technology. This new building will provide us with the facilities that we need to maintain that position and allow for future business expansion. Our new headquarters will dominate a prominent location at the entrance to Portsmouth, reaffirming the city’s reputation as a centre for innovation and success.” Simon Stone, of MERJS, who acted for Raymarine, said: “It has been a rewarding and successful negotiation which has secured the future of a first class employer in the City of Portsmouth.” Nic Evans, of Durngate Property Group, commented: “Both ourselves and Shepherd Developments were delighted to have been selected to develop this site following a competitive tender process. We have worked closely with Raymarine modifying our original scheme to meet the company’s specific requirements. This is an important site for the city and we are pleased to be able to help develop it.” Independent commercial property agent, Hellier Langston, acted on behalf of Durngate and Shepherd Developments. Charlie Chappell, director of the firm, added: “This is a very important deal for Portsmouth and we are delighted that a world class company, such as Raymarine, has decided to complete this first rate development. The regeneration of this site will now be successfully completed, something in which all parties involved can be justifiably proud.”
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