SHEPHERD Developments and Durngate Property Group have clinched one of the largest pre-letting deals in the region for over a decade.

Marine electronics giant Raymarine has signed a lease for 111,000 sq ft of office and industrial space at the former Johnson and Johnson site in Portsmouth.

At the gateway to Portsmouth just off the M27 at Junction 12, the development will provide the leisure sailing specialists with 76,000 sq ft of office space and a further 35,000 sq ft of industrial space for its engineering, R&D, repair and test centre operations.

The 350-strong Raymarine workforce is set to move to their new home in December 2009 from its existing sites at Quay Point and Anchorage Park in Portsmouth.

Malcolm Miller, Raymarine chief executive, said: "We pride ourselves on being at the forefront of marine technology.

"This new building will provide us with the facilities that we need to maintain that position and allow for future business expansion.

"Our new HQ will dominate a prominent location at the entrance to Portsmouth, reaffirming the city's reputation as a centre for innovation and success."

Simon Stone, of MERJS, who acted for Raymarine, said: "It has been a rewarding and successful negotiation which has secured the future of a first class employer in the City of Portsmouth."