Work has started on building two industrial and warehouse units close to Portslade station.
Letting agent SHW (Stiles Harold Williams) said that the scheme was the “first speculative industrial build in Brighton and Hove for 15 years”.
Most similar projects are built for a specific client who wants to buy or rent the premises once building work has been completed.
But Endeavour Holdings, owner of the previously vacant site in Victoria Road, Portslade, is confident of letting the two buildings which should be completed by the late spring or summer next year.
SHW said that ground works had started on the two units which have about 4,000 sq ft of floor space each.
It added: “The units will be available to let on new leases either separately or combined, with these being the first new units to be constructed in the area for approximately 15 years.
“Initial interest has already been expressed by a number of potential occupiers, both local and national, and SHW anticipates terms being agreed on both units prior to the works being completed.”
SHW partner David Martin said: “It is exciting to see this new development under way, following an extended planning period.
“It is the first new scheme in the area since St Joseph’s Business Park, in Hove, in the early noughties and the level of interest shown to date reflects the extreme shortage of high-quality industrial and warehouse stock in the Greater Brighton area.
“While there are a number of successful schemes under construction outside of the area, in Burgess Hill, Lewes and Newhaven, Brighton has been the poor relation in terms of new development, despite almost a doubling in industrial rental levels.
“It is really positive to see our client investing in this new development in this location and I am sure that it will be a really successful scheme.”
Victoria Road is dominated by car dealerships, although Endeavour – based in Rivervale House – closed its Mazda dealership there last year to focus on servicing and MoT tests, leasing and used car sales.
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