Leading commercial property developer Kingsbridge Estates has completed the purchase of a 4.7-acre site at Segensworth, near Southampton, and will bring forward plans to deliver a new industrial development.

The Chichester-based developer, working with a joint venture partner, has acquired Chartwell Court and proposes to submit a planning application to develop a new 110,000 sq.ft warehouse/logistics scheme.

Greg Lukasiewicz, Investment Director at Kingsbridge Estates, said: “We are pleased to complete the acquisition of this site and unlock its potential to create a quality, well-located commercial scheme in response to demand from businesses in the south, investing in our region and supporting local employment. We look forward to bringing forward our plans and progressing with the development during 2023.

”The site at Barnes Wallis Road is strategically positioned at the centre of the Segensworth Industrial Estate, close to Junction 9 of the M27 and with excellent transport links to Portsmouth and Southampton and across the Solent Corridor.

The proposed scheme will target BREEAM Excellent, EPC A and aim to achieve net-biodiversity gain in line with Kingsbridge’s sustainability policy.

The site is close to Concorde Park, a multi-let industrial development previously built, let and sold by Kingsbridge Estates.

LSH advised Kingsbridge Estates and the legal advisors were Michelmores LLP. CBRE represented the seller.

For more information about Kingsbridge Estates see www.kingsbridgeestates.co.uk