Pall Europe buys Portmouth Harbour Gate
A major South Coast requirment is close to being settled at Shepherd Developments’ Harbour Gate scheme in Portsmouth, Hampshire.
Fliuid filtration group Pall Europe is in talks to pay around £20m for the freehold of the 140,000sq ft 5 Harbour Gate, which was for many years the site of pharmaceuticals giant Johnson & Johnson’s Portsmouth headquaters.
Pall, advised by BNP Paribas Real Estate, has been seeking to expand out of its Europa House offices eslewhere in the city for two years.
Harbour Gate is presently occupied by marine electronics manufacturer Raymarine, which took a prelet on 125,000sq ft at the complex in 2007. Raymarine will now seek space elsewhere in Portsmouth.
Shepherd and development partner Durngate were selected to speculatively build Harbour Gate by the South East of England Development Agency in October 2005.
The 4.1-acre site, which lies at the entract to Portsmouth City, close to junction 12 of the M27, was the largest development in Portsmouth for five years.
Shepherd and Durngate are advised by Strutt & Parker and Hellier Langston.