New spec shed for Portsmouth

Paloma Capital is speculatively developing a new 32,300 sq ft warehouse in Portsmouth.

The £2.7 million facility on 5 Interchange Park, is on track for completion in January 2020. It comprises 28,094 sq ft of industrial/warehouse space and 4,248 sq ft of offices with 8m eaves and parking for 67 cars. It will have an EPC A rating and as part of the energy efficiencies, 70 sq m of solar panels on the roof will supplement the building’s power supply.

Russell Mogridge, of joint agent Vail Williams, said: “Due to the lack of similar stock in the city region, Paloma Capital has seen an opportunity to provide a new warehouse unit  aimed at the booming logistics market.

“The investment trend is being reflected nationally, with market data showing that investment in distribution warehouses in the UK reached £1.5 billion in the first six months of this year, a year-on-year rise of 5 per cent.

JLL is joint agent.

By Liza Helps