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Rainier Developments completes seven-figure deal for industrial unit

12 December 2022
The Business Magazine article image for: Rainier Developments completes seven-figure deal for industrial unit

A major industrial unit in Farnham has new owners after a seven-figure deal was agreed with Rainier Developments.

Henley-in-Arden-based property firm Rainier Developments has purchased 68,000 sq ft of warehouse and office space on Hurlands Close, based on Farnham Trading Estate, from Southco Manufacturing Limited.

Rainier has acquired the property with a view to refurbishing the property to a high specification before renting or selling the unit as a whole - or in smaller units - to satisfy the ongoing demand from a variety of sectors for commercial property space.

The property features two separate units with car parking - including a combined 57,600 sq ft of warehouse and two-storey office space at 3 Hurlands Close, as well as the adjoining Ashley House which features 10,600 sq ft of space taking in a 7,000 sq ft warehouse and two-storey offices.

Kieran Bray, Development Director at Rainier Developments, said: “Demand for commercial property space remains strong across a variety of sectors, despite the wider challenging economic backdrop, which is underlined by the strong interest we are already seeing in these units.

“As a firm we pride ourselves on investing in developments that help to enrich the communities that they serve, and we are looking forward to welcoming new businesses into these units in the near future which is likely to provide additional investment and job creation for the Fareham community.”

Law firm Shakespeare Martineau represented Rainier Developments on the purchase, and the property is being jointly marketed by DTRE and Curchod & Co.

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country.

An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts.

Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.

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