Work has begun on a new purpose-built multi-million pound high-tech facility near Bournemouth Airport, bringing significant investment to the south coast, leading commercial property developer Stoford has announced.
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.
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.
The forward funding arrangements for the project have been completed with Global Gate Capital alongside its simultaneous acquisition of a 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. The new development will bring a significant amount of investment to the south coast, providing new jobs and more opportunities for the surrounding area.”
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 with Stoford.”
Rudy Sayegh, CEO at Global Gate Capital, added “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.”
Other businesses located at Aviation Business Park include Siemens, Honeywell, Cobham, and Ocean Yacht Systems.