CJR Propulsion invests £3m and expands into next-door premises with support from commercial property specialists at LSH.
Leading marine manufacturer CJR Propulsion has made a £3m investment in equipment and expanded its premises in Southampton with the support of commercial property specialists at Lambert Smith Hampton (LSH).
CJR Propulsion, which supplies precision-engineered propeller and sterngear packages for commercial, leisure and superyacht brands, instructed LSH to renegotiate the lease, which was due to expire, on its premises at Centurion Industrial Park, Bitterne Road.
Aware of CJR Propulsion’s need for more space, LSH used the opportunity to negotiate on the occupancy of an adjoining unit which had previously been used as a gym.
Following a full refurbishment of the unit by Colliers Capital on behalf of Staffordshire Pension Fund, CJR Propulsion now occupies both units and has invested £3m in new equipment to build on its position as one of the most advanced marine manufacturers in the country.
The expansion will support CJR Propulsion’s growth plans and is expected to lead to the creation of around 12 jobs.
Adrian Whitfield, Director, Industrial and Logistics at the Southampton offices of LSH, said: “The lease on Unit K, where CJR have been based for several years, was due to expire – so as well as negotiating new terms for that unit, we also saw the opportunity to support the company in its expansion plans.
“With continued lack of supply and high demand for commercial units, moving into the adjoining unit L was a perfect solution, but there was work to do to bring that unit into line with CJR’s requirements.
“We are pleased to have negotiated new terms for the lease of the two units, including the full refurbishment of Unit L, and delighted that LSH’s expertise has been able to help facilitate this exciting new phase of growth for CJR Propulsion.”
Mark Russell, MD of CJR Propulsion, said: “Centurion Industrial Park is in many ways the ideal home for us, so we are very grateful to LSH for helping us solve the problem of expanding our operations without the upheaval of a move to premises elsewhere.
“This expansion keeps us on track for future growth as we continue to invest in the latest technology to exceed our customers’ expectations and stay ahead of our competitors.”
Lambert Smith Hampton, with offices in Fareham and Southampton, is a multi-award-winning commercial property specialist and a leader on the South Coast in the industrial property, office space, retail and investment markets.
For more information see www.lsh.co.uk