Phase one of Bognor Regis business park sold for £18.6m
The first phase of the Saltbox Business Park in Bognor Regis has been sold by Landlink Estates to Knight Frank Investors for £18.6m.
The 17 acre site off Shripney Road can be for industry, retail, logistics and warehouse use.
The first phase includes a Warburtons distribution facility, a new Aldi food store and Greggs and Starbucks drive throughs.
Saltbox falls within Enterprise Bognor Regis, a 70-hectare commercial and employment development opportunity located on the northern edge of Bognor Regis, which has the potential to accommodate 150 businesses and provide 4,000 jobs.
Landlink Estates Ltd is an independent, privately owned property development company based in West Sussex managing over 6,500 acres of land and property.
It is part of the Langmead Group, a family-owned business with a long-established portfolio of fresh food, farming, and property businesses.
Paul Hanson, CEO said, “We have recently expanded our management team and are planning to step up our work across both the commercial development and strategic land sectors.
“This deal with Knight Frank Investors is our first step into the institutional market and we are looking for further opportunities to add value to our extensive land and property assets going forward.”
Landlink Estates was advised by Will Marsh of Marsh & Baxter and CBRE, and law firm Irwin Mitchell, led by real estate partner Guy Sackett.
Guy Sackett said, “It’s been exciting to advise Landlink Estates on its first foray into the institutional market and to help them deliver a great result in what remains a challenging market for commercial development.
“This area of West Sussex, with its good transport links, has been growing in popularity and our client has been able to take advantage in the growth in demand for quality warehousing and logistics facilities to secure a good sale.
“We hope to continue working with Landlink Estates as they explore further opportunities to unlock value from their land and property assets in the region.”