Acting on behalf of Glenmore Group, national commercial property consultancy Lambert Smith Hampton (LSH) has successfully sold Apex House on Lederle Lane, Gosport.
LSH’s Capital Markets team has sold Apex House to a trust fund client of Vail Williams for £1.7m, reflecting a net initial yield of 8.2%. The 16,373 sq ft industrial unit was let to a leading marine safety company, Survitech Group Ltd, in December 2012 following the company’s relocation from Harbour Road. The company signed a new 10 year lease, at a rent of £147,000 per annum.
The purchaser was advised by Vail Williams.
Jerry Vigus, Director in LSH’s South Coast Capital Markets team, commented: “Following the successful letting by our Industrial & Logistics Agency team, we were instructed by Glenmore Group to market the investment. Following a marketing period, we attracted expressions of interest from a number of local investors and we asked for best bids, before agreeing terms with Vail Williams’ client.”
Jerry added: “The investment market has seen a recent uplift in activity, particularly since March, with a number of UK funds looking to invest in the regions. We are also seeing a number of property companies and wealthy individuals back in the investment market. We are currently advising a number of clients on other investment opportunities which are due to come to the market before the summer.”
Julian Walker, a partner at Vail Williams, added: “The Trust is very pleased with the acquisition, which provides a good solid income stream secured on an attractive modern property.”
