Global engineering giant Curtiss-Wright is set to move into a new purpose-built multi-million-pound high-tech facility near Bournemouth Airport, bringing significant investment to the south coast city.
Forward funding for a 160,000 sq ft unit, including 45,000 sq ft of offices and a 115,000 sq ft production unit, on a 10.64-acre site has been concluded with Global Gate Capital, leading commercial property developers Stoford announced today.
Planning was approved by Christchurch Borough Council last year after proposals were submitted by Stoford and the land owner MAG Property, the property and development arm of Manchester Airports Group (MAG), which owns and operates Bournemouth Airport. Stoford hopes to begin construction work on site at Aviation Business Park in February.
The forward funding arrangements for the project have been completed with Global Gate Capital alongside their simultaneous acquisition of the nine-acre site from Bournemouth airport operator and owner MAG.
Stoford joint managing director Matt Burgin said: “We are excited to unveil the plans for the facility at Aviation Business Park at Bournemouth Airport, in association with MAG Property. Curtiss-Wright is a globally renowned engineering company with a fantastic pedigree which is committed to bringing major new investment to Bournemouth and we are proud to be working alongside them.”
Lynda Shillaw, MAG Property CEO, said: “Aviation Business Park is emerging as a key employment location supporting Christchurch and East Dorset’s Core Strategy and forming an important component of Dorset LEP’s wider £40m Bournemouth International Growth Programme. We are seeing healthy occupier and investor demand for manufacturing, logistics and aviation related property at Bournemouth Airport and are delighted to be working together with Stoford and very much look forward to welcoming Curtiss-Wright.”
Rudy Sayegh, CEO at Global Gate Capital, commented “We are delighted to have completed this forward funding, our second with Stoford Developments in recent months, and we are looking to invest a further £100m in such property in 2016.”
The new premises, which will see the engineering giant relocate from four sites in the region, could be completed by December 2016.
Other businesses located at Aviation Business Park include Siemens, Honeywell, Cobham and Ocean Yacht Systems.