Lambert Smith Hampton secure Percival Aviation into new premises in Cartwright Drive, Segensworth
Aircraft interior specialist Percival Aviation is to expand into purpose-built, multi-million-pound new premises in a move secured by commercial property specialists Lambert Smith Hampton
Percival Aviation, which specialises in the design, production and maintenance of aircraft interiors and equipment, is undergoing major growth as expands to support customers around the world including British Airways, Emirates, and easyJet.
The company will move a short distance from its current premises in Barnes Wallis Road to take a 40,000 sq ft detached unit to be built in Cartwright Drive, Segensworth.
Lambert Smith Hampton was instrumental in the move, acquiring the site on behalf of Marick Real Estate and advising throughout negotiations. Vail Williams advised the purchaser. JLL advised the landowner, Raymarine.
Construction will begin next month on the unit, just off Junction 9 of the M27, and will be carried out to the new occupier’s precise specifications.
Robin Dickens, Director – Industrial at LSH’s south coast offices, said: “Securing these new premises ensures that a hugely successful, independently-owned, locally-owned company with a worldwide reputation can remain in the region as it grows, with all the benefits that brings to the economy here.
"Marick were hands on throughout the design process and worked closely with Percival’s management team to arrive at the ideal building solution.”
The new unit is in a thriving area with neighbouring occupiers including Estee Lauder and Royal Mail. The land at Segensworth was secured by Marick Real Estate from Raymarine, which had deemed it surplus to requirements.
Jerry Vigus, Director of Capital Markets and Industrial & Logistics at LSH South Coast, said: “We have been tracking this site and made on off-market approach to Raymarine to acquire the site on behalf of Marick Developments, who had a detailed knowledge of the area from developing Kite’s Croft, home to Estee Lauder.
"The site acquisition was complex, as we had to work with Hampshire County Council in restructuring the ground lease, and deal with relocating reptiles, all while keeping the transaction confidential.”
Mike Forster, Managing Director at Marick Developments, said: “This builds upon Marick’s established track record of providing buildings for industry, working in conjunction with local occupiers and local authorities to provide bespoke building for expanding busineses.”
Neil Percival, Chairman at Percival Aviation, said: “I am delighted to have acquired this site and factory development in the Segensworth area. It was an important part of our decision to remain close to our existing facility, which this new location achieves.
The new factory once opened later this year will double our company’s capacity and will facilitate our ability to continue grow our business. I’m looking forward to seeing the development start next month and the opportunities and security this will provide our business.”
Lambert Smith Hampton, which has offices in Fareham and Southampton, is a multi-award-winning commercial property specialist and has the largest transactional team in the Solent region, with 13 specialists working in the industrial property, office space, retail, leisure and investment markets.
For more information see www.lsh.co.uk
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Lambert Smith Hampton is a commercial property consultancy with a network of offices across the UK and Ireland.