Leading industrial developer, Chancerygate has forward funded its three-acre Pioneer Park scheme in Portsmouth through a fund of Cornerstone Real Estate Advisers.
Located within the established Airport Industrial Estate, the scheme comprises 75,500 sq ft arranged in eight units and provides easy access to both the A27/M27 and the city centre. A sizeable part of the scheme is already under offer on behalf of the fund and with the infrastructure and servicing of the site nearing completion, Chancerygate will shortly be commencing the construction phase. The completed units are targeted to be ready for occupation during the first quarter of next year.
Jonathan Lee of Chancerygate commented: “The early pre-letting interest we have received demonstrates the level of success this scheme is predicted to deliver. During the past six months, Chancerygate has acquired this site together with a further 4.5 acres in Poole, and we are keen to acquire more development opportunities on the South Coast.”
Doherty Baines acted for Chancerygate and JLL advised Cornerstone.