Catella Property Consultants - Offices Development - Southampton, Solent Business Park

Date: 29 Oct 2001

A joint venture consortium has been formed to speculatively develop two B1 office units having a gross floor area of 1,254 sq m (13,500 sq ft) - 1,022 sq m (11,000 sq ft) net lettable on Solent Business Park, just off junction 9 of the M27 motorway near Southampton. The finished product will have an end value in excess of £5.5 million.

Merchant Investors Assurance, advised by Catella has agreed to fund the scheme that will be developed by City Estates Limited who have acquired plots 1400 and 1500 from Harbour Properties Limited for a sum in excess of £1 million.

A detailed planning application is expected soon and construction of the scheme will commence in November.

Vail Williams and King Sturge have been appointed as letting agents.

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