Acting on behalf of the vendor, Rainford & Smith, our industrial property experts were appointed to secure a buyer for the unit, which is situated just three miles from Portsmouth city centre, close to the A27 and M27.

The unit was purchased by Spanish manufacturers and importers of Mediterranean food, La Española Limited, on a long leasehold from Rainford & Smith, with Portsmouth City Council retaining the freehold of the site, in what was a complex three-way deal.

Surveyor, Alex Page, explained:

“We’re delighted to have secured a buyer for this unit, in what have been challenging market conditions.”

Boasting a modern industrial building with two loading doors, first and second floor offices and private parking facilities, the unit at Alchorne Place represented an invaluable opportunity for the right buyer.

“As the market picked up pace and demand for this type of industrial unit started to soar, we secured a number of viewings and were able to explain the complexities of the long lease process, to help secure a successful sale,” continued Page.

Having first begun trading from their kitchen, business partners Raul and Sue Aguado, welcomed the move to the larger premises, which comes as the company celebrates 20 years of business.

Speaking of the move, General Manager of La Española, Jason Gould, said:

“It’s fantastic to be celebrating 20 years in business from this new unit in Portsmouth. Many of our clients are based on the south coast, so we’re pleased to be returning to where we first traded. The move will allow us to provide the best possible service, and we’re looking forward to continuing to grow the business from this great new location.”

Portsmouth City Council Leader Cllr Donna Jones added:

“We’re delighted to welcome Mediterranean food importers La Española to Alchorne Place. This deal demonstrates that the industrial market in Portsmouth is thriving. It’s great news for the local economy and we wish the business every success from their new home.”

Image courtesy of: Habibur Rahman