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New Milton new jobs hope after £2.2m industrial premises sale deal
11:53am Tuesday 25th February 2014 in Hampshire Business
A HAMPSHIRE town could be in line for a jobs boost after disused industrial premises were snapped up in a £2.25m deal.
About 90 people were made redundant last year when bi-therapeutics firm Molecular Devices moved out of its premises in Stem Lane, New Milton, after the American owners switched production to California.
Joint agents Goadsby refused to name the purchaser but said it was an established local business.
Goadsby spokesman Simon Williams said: “This company had been looking for suitable premises along the central south coast for some time and finally decided on New Milton since they have existing premises close by.”
Conversion work is expected to take about a year.
Comprising 16,000 sq ft of office space and a 42,235 sq ft warehouse, the premises were originally the home of Johnson & Johnson before being occupied by a company called Genetix, founded by Mark Reid in a shed at his home in 1991.
It became instrumental in helping scientists map human DNA and grew into a global firm, pioneering the development of automated systems used in gene discovery.
In 2010 a £63m deal saw Genetix sold to US manufacturing giant Danahar, which then amalgamated it with Molecular Devices.