A deal brokered by commercial property experts at Vail Williams has unlocked the transformation of a former research and development facility in Fareham.
The 30,000-square foot premises at 16-18 Barnes Wallis Road, Segensworth, close to Junction 9 of the M27, is primed for business once again after it was bought by specialist investor/developer Craigard.
The new owner intends to put it back onto the market soon, with plans either to refurbish the site under a new scheme called Flexus, or with alternative development proposals including warehousing.
The result is a happy ending for this property after the previous occupier went into administration and Vail Williams were appointed to dispose of the property.
Philip Holmes, Head of Solent Business Space Vail Williams, said: “We had to overcome some complex property issues to revive this building as an attractive prospect, but now it is set for a new lease of life and will be a real business opportunity.
“With our local knowledge, expertise and determination we were able to unpick the issues and achieve a great result for our both sides, as well as local businesses. Once developed, it will be a sought-after premises for tenants and potential purchasers.”
David Foster at Craigard, said: “We are delighted to be involved with Flexus – it is an exciting opportunity to bring a building back into economic use. It’s a great location and I am sure we will be announcing good news over the coming months. Watch this space!”
For more information about Vail Williams LLP, please visit www.vailwilliams.com.