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Rokeagle & Microturbo secure major land deal
Aerial photograph of site
One of the most significant property deals this year has been concluded at Segensworth North which will create hundreds of job in South Hampshire.
Microturbo Ltd. a division of worldwide aeronautical giant Snecma have agreed to sell 7.6 acres of industrial land adjacent to their existing factory on Concorde Way to developers Rokeagle. As part of the deal, Microturbo will have a new factory and office complex of 3000 sq m built by the developers construction arm Rok Build.
Property consultants Young & Butt based at Segensworth masterminded the transaction, which has taken over two years to come to fruition and marks further evidence of the strength of the local economy. French based Snecma decided to expand its manufacturing and helicopter engine servicing operation in the UK, over many international locations because of the highly skilled work force and land availability at Segensworth North. Local commercial surveyors Holloway Iliffe & Mitchell advised Rokeagle.
Michael Foote MD of Microturbo and chairman of the Hampshire branch of the IoD remarks �This new facility will help to consolidate two high technology businesses, the manufacture of turbine parts and provision of local engine support services to UK customers. This is great news for us and for Hampshire and demonstrates that, with a good team, the UK still competes effectively in the tough global market of aerospace manufacture�.
Richard Stileman, Associate Director at Rokeagle commented �We are extremely excited about this strategic site acquisition. This is very much in line with our corporate philosophy of buying well located land with planning permission near major infrastructure routes, and follows the acquisition of 3.5 acres on Junction 3 of the M27�.
Director at Young & Butt, Robin Dickens, comments �We approached a number of local and national developers and Rok demonstrated competitiveness in both build cost and land value. Having both in house construction and development teams, and internal funding proved decisive in Microturbo selecting them�.
Rokeagle will immediately market the site and promote design and build opportunities for companies requiring bespoke industrial or warehouse accommodation from 1000 sq. m to 10,000 sq m. There are a number of expressions of interest with potential occupiers on both freehold and leasehold terms. Securing this site reinforces Rok�s development activity at Junction 9 of the M27 where recently they have successfully landed a letting to the Learning and Skills Council in Eagle Point, a new 3,500 sq m office building. In addition, Rok Build have just moved into new headquarter offices at The Links development on the Solent Business Park, whilst Rokeagle, are now in new offices in Brunswick House, Southampton.
Young & Butt and Holloway Iliffe & Mitchell are retained by Rokeagle to market the new industrial development at Concorde Way.
For further information please contact Robin Dickens,
Young & Butt, on tel. 01489 579579
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