Prime Box, in collaboration with Cedar Invest, has acquired Denmark House in Petersfield, Hampshire, paving the way for significant redevelopment. The London-based companies completed the purchase from Vestey Holdings, marking an important step in their expansion strategy.

Denmark House, located strategically on Bedford Road close to the A3, spans approximately 112,000 sq ft. The redevelopment plan will transform the existing structure into a modern logistics warehouse covering 80,000 sq ft, featuring extensive upgrades and a focus on sustainability.

Richard Lord, a director at Prime Box, outlined the future of the property: “Once complete, the property will benefit from a large, 60m-depth yard and new CAT A offices with mechanical and electrical services. The building will be solar-ready and will be targeting an EPC A rating.”

Advisory firm SHW played a pivotal role in guiding Prime Box and Cedar Invest through the acquisition process, with Avison Young representing Vestey Holdings. Tim Hardwicke, a partner at SHW, commented on the project’s potential, “The refurbishment is just what the occupier market wants. And the location on the A3 provides quick and easy access to the South Coast and London, with Portsmouth drive time only 20 minutes and the M25 (junction 10) only 36 minutes.”

The refurbishment, led by Faircloth Construction with Total Project Integration managing the project and overseeing costs, is set to begin in May 2024. The redeveloped unit is expected to be ready for occupation by the fourth quarter of 2024, with SHW and Avison Young handling the property’s leasing.