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ACRE instructed to market 40-Acre Former IBM Campus for Angelo Gordon

By August 2020 News

ACRE Capital Real Estate have been instructed to market Langstone Park on behalf of Angelo Gordon.

The 480,000 sq ft, Multi-Let Park in Portsmouth is Anchored by Lockheed Martin

Once home to IBM’s first factory in England, Angelo Gordon is seeking a buyer for Langstone Park, a 40-acre, freehold Park located on the A27 at Havant, CoStar News can reveal.

The 480,000 sq ft, multi-let Park, anchored by Lockheed Martin and a Aptum Data Centre is a key employment site in Havant. The Council has recently granted consent for a 135,000 sq ft industrial development. With booming demand for industrial space on the south coast and an acute shortage of opportunities in the region the Park is likely to attract strong investor interest, sources said.

Langstone Park is the last remaining property in the five-asset Science Park Portfolio which Angelo Gordon and Trinity Investment Management purchased from Mars Pension Fund’s Business Environments for £100m in 2016. As previously reported by CoStar News, Harrison Street acquired the other parks which included the Hexagon Tower in Manchester as Angelo Gordon looks to focus on new opportunities.

ACRE Capital and BCM are acting on the sale.

CoStar reported on the sale here