Portsmouth’s Proxima Park fully lets first phase of industrial units

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Daniel Face

Proxima Park, Waterlooville near Portsmouth

All units are now spoken for in the first phase of letting at Proxima Park, a new 472,400 square foot industrial and warehousing scheme in Waterlooville near Portsmouth.

The site, named for its proximity to major road networks, was developed by Equation Properties. CBRE served as joint agents for phase one alongside Vail Williams, which operates out of Portsmouth’s Lakeside North Harbour.

Units ranging from 3,064 to 22,357 square foot have been let to occupiers including a manufacturer, a joinery supplying doors and windows to UK house builders, and family bakers Warburtons, who signed two units as a depot.

Phase two of the scheme is set to offer larger units between 41,441 and 126,500 square foot. Outline planning consent is already in place, and one unit totalling 42,786 square foot is ready for immediate occupation.

Coopers Fire, which manufactures and installs fire safety measures, has been the first firm to pre-let at phase two. The firm will make Proxima Park its new headquarters, taking 45,000 square foot of office and factory space.

Russell Mogridge, who heads the industrial agency team at Vail Williams’ Portsmouth office, said: “Proxima Park meets the distribution and logistics needs of forward-thinking companies, with a population of more than 1.55 million reached within just 45 minutes – a significant consumer base for occupiers.

“The UK’s exponential growth in online shopping and same-day delivery and just-in-time fulfillment needs, along with a lack of suitable employment land for similar developments in south-east Hampshire, means Proxima Park is well placed to strategically serve companies.”

The development will also bring 3,000 new homes, growing the local labour pool.

CBRE Senior Director Nick Tutton added: “The estate has been a massive benefit to the Waterlooville area, bringing in a number of new businesses from outside of the town and even county. We have been delighted to advise from the outset of the development and look forward to working on securing new occupiers for the remaining plots at the park.”

Daniel Face

Born and raised in Berkshire, Dan fell into journalism after completing his bachelor’s degree in English at UCL. Writing for The Business Magazine and local Biz News sites has given him the opportunity to chat with all manner of small business owners and share their success stories with a wider audience. Outside of work, Dan enjoys live music, board games and quiz shows, and is making a slow but persistent effort to learn Spanish.