Rigby Group enhances airport purchase with acquisition of business park

The Rigby Group has added to its purchase of Bournmouth Airport with the acquisition of an adjoining business park.

Rigby Real Estate strengthened its potfolio with the purchase of Bournemouth Airport Aviation Business Park, one of the largest employment sites in Dorset.

The deal will see the parent group’s commercial real estate division take over the running of the Aviation Business Park, which is home to more than 200 businesses on a 200-acre site adjacent to the airport.

The business park, home to major occupiers including Honeywell, Amazon, Hobbycraft and Babcock, features offices, warehouses, industrial and storage buildings and is already 96% occupied.

Its purchase, the details for which have not been disclosed, represent a key milestone in a wider strategy to expand the Rigby Real Estates portfolio, which already includes sites in Norwich, Exeter and Coventry.

With the opportunity to further develop 60 hectares of commercial property at Bournemouth, Rigby Real Estate – which recently developed Imperial Park, a 575,000 sq ft distribution hub adjacent to Coventry Airport – intends to work closely with the Dorset LEP and other regional stakeholders to improve infrastructure, grow existing and attract new businesses to the area.

Mike Murray, Rigby Real Estate’s Commercial Real Estate Director, said: “This is an exciting opportunity and we’re looking forward to working with Dorset LEP and other regional stakeholders to accelerate the next phase of development and help drive business growth in the area. It is another key milestone in a much bigger strategy and the growth opportunity is huge.”