Prime Box, in a Joint Venture with Cedar Invest, has completed the purchase of Denmark House in Petersfield from Vestey Holdings.
The industrial/warehouse property is strategically located on Bedford Road, just off the A3, providing access North to London and South to the Coast.
The existing building will be repositioned to provide c. 80,000 sq ft of refurbished and modernised logistics warehouse space.
Richard Lord, a Director of Prime Box, comments: “Once complete the property will be modernised, have a large yard (up to 65m), 14 loading doors (dock and level), be ‘PV ready’ and will be targeting an EPC A rating.”
SHW advised Prime Box and Cedar Invest on the acquisition, with Avison Young acting for Vestey Holdings.
Refurbishment works will start in May 2024, led by Faircloth Construction, with Total Project Integration as Project Manager and Quantity Surveyor. The completed unit will be ready for occupation in Q4 2024.
Tim Hardwicke, Partner at SHW, says: ‘’The refurbishment is just what the occupier market wants and the location on the A3 provides quick and easy access to the South Coast and London regions with Portsmouth drive time only 20 minutes and the M25 (J10) only 36 minutes.’’
SHW and Avison Young will be letting agents for the new logistics space.