Bishops Printers, one of the largest and most rapidly expanding commercial printing firms in the south of England, has bought, freehold, a modern high tech warehouse covering 84,934 sq ft (7890 sq m) at Phoenix, Portsmouth for £4.35 million. Vail Williams LLP, leading real estate advisers, acted for the vendor Richard Hayward Properties in the sale.
Due to expansion of the business, Bishops Printers are moving from their present location in Farlington, Portsmouth to the warehouse at Phoenix which is nearly double the size. The company has 145 staff, one of the largest team of print experts in the industry, and the latest presses and printing technology. Their business includes the printing of programmes for football clubs Chelsea, Arsenal, Fulham, Portsmouth and Charlton.
The new warehouse comprises two storey office accommodation to the front and a three bay modern warehouse to the rear and an extensive self contained yard. The whole site covers an area of 5 acres.
Gareth Roberts Managing Director of Bishops Printers said "This is an exciting move for Bishops and should enable us to continue to grow and serve the printing needs of local and national business alike"
Ross Moyler at Vail Williams LLP commented: "This is one of the largest property sales in the area for many months and is a testament to the success of Bishops Printers in the face of the tough economic climate. The new warehouse is very modern with easy access to the motorway network and will allow the company to continue this growth."
As part of the transaction Vail Williams are bringing to the market Eastern Point, the old Bishops Printers unit they are vacating at Fitzherbert Road, Farlington, Portsmouth. The property offers 42,889 sq ft of Industrial/warehouse and ancillary office accommodation.
Ross Moyler commented: "There is a shortage of warehouses of this size in the M27 area so we are anticipating good levels of interest. The warehouse is on a self contained site with excellent parking and yard space."
Vail Williams LLP acted jointly at the Phoenix site along with GVA Grimley.