A MULTIMILLION pound industrial park will be built on land in Ferndown, it has been announced.

The £30m scheme, which will feature 24 new industrial, warehouse and trade units on 8.5 acres at Ferndown Park, near the Ferndown Industrial Estate, will be ready by 2020.

The site was purchased by a joint venture between industrial developer and asset manager Chancerygate and international real estate firm Hines.

It will eventually provide freehold and leasehold units ranging from 3,000 sq ft to 33,000 sq ft.

Developers believe Ferndown Park, which lies off Vulcan Way, is the ‘first speculative scheme of its size in the area for 15 years’.

The site already houses parcel delivery company DPD, builders’ merchants Travis Perkins and trade kitchen supplier Howdens.

Chancerygate development director Jonathan Lee said: “This is an excellent acquisition for us, representing a prime location in the Bournemouth and Poole area with untapped potential.

“At Ferndown Park, we will offer a broad variety of unit sizes and freehold or leasehold options.”

Hines senior managing director and UK head Ross Blair said: “This is an exciting acquisition for the joint venture that will deliver a much sought-after quality industrial scheme.

Ferndown Industrial Estate is one of Dorset’s most successful industrial parks.

It covers around 150 acres and is home to a number of major employers, including Farrow and Ball.

The most expensive property currently being marketed at the site is the former Activate Trampoline Park in Haviland Road, which closed suddenly in September 2018.

Use of the unit as a trampoline park and café was approved when East Dorset District Council granted planning permission in April 2016 for Activate to run the centre. As reported, the buildings were then converted back for industrial use.

They are currently available for £127,500 per annum.