A property developer has acquired a key employment site in Poole for £7.75 million.

The 10.7-acre site at Sopers Lane, formerly owned by Siemens plc, is just north of the town centre within a designed Employment Zone in the Poole Local Plan.

Kingsbridge Estates says it will now work closely with the site’s current occupiers and local stakeholders to bring forward proposals for a phased development.

It is expected to comprise new industrial/warehouse space.

Chris Fry, Chief Executive, pictured left, said: “We are excited about the Sopers Lane site and its potential for a phased redevelopment to support local employment and contribute positively to the local economy.

“This acquisition is in line with our mission to create sustainable schemes that help meet high levels of demand for quality commercial space across the South.”

Kingsbridge Estates, based in Chichester, West Sussex, specialises in creating high quality commercial and office schemes with a focus on sustainability.

Previously the home of a munitions factory, the Sopers Lane site was taken over by Plessey – later to become part of Siemens – in 1966.

It was used for the design and development of products with its best-known being traffic lights.

The site remains a global manufacturing facility – and world leader – for traffic management technology to this day but is now part of Yunex Traffic.

Formerly operating as Siemens ITS, Yunex Traffic has been an independent company since 2021.

The team at Kingsbridge Estates were advised by DTRE and Freeths on the purchase.

CBRE and Osborne Clarke advised Siemens plc.