October 4, 2012
Highcross has sold a 3.1 acre site at its Lakeside North Harbour Business Park in Portsmouth to De Vere Group for a new resort hotel.
The group’s De Vere Village Urban Resorts division has exchanged contracts for the purchase of a 250 year leasehold interest in the land at the expanding business park.
The 124-bedroom hotel will be located at the eastern edge of Lakeside North Harbour, close to the new Porsche Centre, and provide additional leisure, food and conference facilities for companies based at the park and the wider community.
Highcross’ phased expansion of the Lakeside North Harbour business park will ultimately comprise almost 1 million sq ft of new development, including new office buildings alongside the lake and a medical centre. A new day nursery recently opened at the park and work has just completed on the construction of a new retail and lifestyle hub, linked to the park’s anchor 1000 Lakeside office building.
Nick Turner, asset management director at Highcross, comments: “The De Vere Group’s plan to locate one of its Village Urban Resorts at Lakeside North Harbour is great news, and reflects the strengths of the park’s excellent location, attractive environment and expanding business community.”
Agents for Highcross at Lakeside North Harbour business park are Hughes Ellard and Vail Williams.