The marine electronics pioneer is to sign the largest office letting in Portsmouth for more than ten years.
In a deal announced today, the listed leisure marine products provider has agreed a prelet with Shepherd Developments and Durngate Property Group for 111,000 sq ft (10,300 sq m) at the former Johnson & Johnson site.
The building, which will enable Raymarine to consolidate all functions of the company under one roof, will be completed in 2009.
Raymarine chief executive Malcolm Miller said: ‘The new building underlines our commitment to the city of Portsmouth. The city has long been the nautical heart of the country and we remain committed to its continued economic success.’
MERJS acted for Raymarine. Hellier Langston advised Shepherd Developments and Durngate Property Group.