Landlink Estates have sold the second phase of Saltbox Business Park for €15.8m (£13.35m) to an SVP owned by a new joint venture between Kier and PGIM, (Kier PGIM Logistics Propco 1 Limited).
Saltbox Business Park is an industrial/ retail/logistics park in Bognor Regis, West Sussex located on 17 acres of land. Phase Two comprises prime commercial development land in 8.9 acres, capable of delivering trade, industrial and warehouse units from 2,500 to 150,000ft². Three “oven-ready” development plots have been sold together with the benefit of planning consent for B1(C), B2 and B8 uses.
The site benefits from proximity to Gatwick Airport and the international commercial and ferry ports at Southampton and Portsmouth, and quick road access to the M27. It falls within Enterprise Bognor Regis, a 70-hectare commercial and employment development opportunity located on the northern edge of Bognor Regis in West Sussex which has the potential to accommodate 150 businesses and provide 4,000 jobs.
Paul Hanson, CEO of Landlink Estates said: “We are pleased to have sold the second phase of Saltbox Business Park, so soon after completing the sale of Phase One. The demand for industrial and warehouse space has never been higher and we have taken advantage of this growing demand for quality warehousing and logistics facilities to secure a very good sale. We will be reinvesting the proceeds to add value to our extensive land and property portfolio.”
