Shepherd Developments and Durngate Property Group, advised by Strutt & Parker, have pre-let their development in North Harbour, Portsmouth to marine electronics manufacturer Raymarine.

The office building and production unit, on the site of former Johnson & Johnson offices, is due for completion in Quarter 3 2008. The development of the 4.8 acre site, which is situated at junction 12 of the M27, is the largest in the city for five years and will consist of a 76,485 sq ft office building and 20,000 sq ft production unit. Raymarine has taken the space on a 15 year lease at a rent of £19 per sq ft on the office accommodation and £7.50 per sq ft on the production unit.

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