The Southampton-based marine manufacturer has expanded its premises, purchased new equipment and is set to create 12 new jobs.
Leading marine manufacturer CJR Propulsion has invested £3m in new equipment and has expanded its premises in Southampton with the support of commercial property specialists at Lambert Smith Hampton (LSH).
The Southampton-based firm, 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.
Mark Russell, managing director 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.”
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