Flude Property Consultants were instructed alongside Lambert Smith Hampton to market the freehold interest at Chichester Fields Business Park on behalf of Kingsbridge Estates Ltd.
Kingsbridge Estates is a leading developer of dynamic workspaces specialising in quality commercial property projects across the South of England. Often working closely with trusted equity partners, they invest in and create industrial, warehouse, office and mixed-use developments that create employment and economic benefit in the region we are proud to live and work in.
The proceeds of this sale will be used to contribute to the growth of their development and investment pipeline.
The subject property comprises two modern office buildings of traditional construction, each arranged over two floors, providing a NIA of 14,244 sq ft. It was sold to a private investment company for £2,000,000.
Flude Director, Mark Minchell, commented, “We were delighted to work with Kingsbridge Estates to dispose of this attractive multi let asset on the outskirts of Chichester. The new owners will benefit from the strong income and covenant profiles of the tenants.”
Greg Lukasiewicz, Investment Director, Kingsbridge Estates, said: “We are pleased to realise the business plan for this strategic core investment. We are excited to reinvest the proceeds in new development opportunities in line with our strategy of creating outstanding, sustainable workspaces to meet occupier demand and contribute to the prosperity of the region.”
