8 January 2013
HIGHCROSS HELPS MEGGITT TO CONSOLIDATE SITEAT TITCHFIELD
Highcross has reached an agreement tolet an additional 35,000 sq ft industrial unit at its Titchfield Park scheme in Fareham, Hampshire to Meggitt Avionics.
Meggitt Avionics designs and manufactures an extensive range of air data systems, flight displays and life support equipment for fixed and rotary-wing aircraft in the civil and defence market.
Meggitt Avionicshas takenUnit 5, which will house key design and engineering operations anda newly designed main reception. This lease will provide the business with the extracapacity needed to maintain operational excellence and provide sustained future growth for its customers around the world.
Highcross is pleased to announce that Meggitt Avionics hasalsorenewed its leases for the existing three units at the schemewith the intention to combine the new let into one large single site.Following completion of this consolidation project, the 121,690 sq ft Titchfield Park scheme will be fully occupied.
This letting was agreed between Jones Lang LaSalle as the official land agent to Meggitt PLC, actingon behalf of Meggitt Avionics and Highcross’ agents at Titchfield Park, Hughes Ellard and Lambert Smith Hampton.
Nick Turner, Asset Management Director at Highcross, commented: “Meggitt Avionics’ decision to consolidate its operations at Titchfield Park reflects the quality of the scheme, the investment being made by Highcross in improving on-site facilities and the strength of the location. Our success in achieving full occupancy at Titchfield Park within one year of its acquisition also highlights the continuing demand for high quality industrial units in the Solent Corridor.”
Consolidation is expected to be completed by the end of 2013, combining operations from two sites in the Fareham area, to the developed Titchfield Park site. During the transition Highcross will be creating 100-plusspaces in anewly constructed decked car park for Meggitt Avionics’ employees, which is scheduled for completion in June 2013.
Michael Green, Lead Director at Jones Lang LaSalle, said: “This is an important strategic move for the business and needed to be executed to a strict timetable to ensure there could be no disruption to production. Our client is delighted with the outcome and is pleased to re-confirm its significant commitment to south Hampshire.”
Russell Mogridge, a director at Fareham-based Hughes Ellard, said: "Meggitt’s commitment locally is an emphatic vote of confidence in Hampshire and the UK and is another example of British manufacturing leading the way in the intensely demanding and complex market of Aerospace and Defence.”
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