The Capital Markets team at Lambert Smith Hampton has been involved in two high profile investment transactions on the Nursling Industrial Estate in Southampton, advising CBRE Global Investors and Cordea Savills.
Acting jointly with GVA Grimley, commercial property consultancy Lambert Smith Hampton has advised CBRE Global Investors on the acquisition of the Aalco Metals Unit off Test Lane on the Nursling Industrial Estate in Southampton.
The investment generated a lot of interest from major UK institutions going to two or three rounds of bids before CBRE Global Investors was selected as the preferred purchaser.
The 60,000 sq ft unit was let to Aalco Metals on an expired term of nine years and was sold to CBRE for £5.13m, acquitting to a net initial yield of 7%.
LSH’s Capital Market team also advised Cordea Savills on the acquisition of a 108,000 sq ft unit, also on the Nursling Industrial Estate. The unit was let to TW Metals, with an unexpired term of 12 years, from Chester Trust, advised by London agents BNP.
Cordea Savills approached LSH to provide both occupational and investment advice to assist with the acquisition.
Jerry Vigus, Director of Capital Markets at LSH’s South Coast office, says: “These are two very high profile investment transactions for the Southampton area.
“The sale of both the TW Metals and Aalco Metals premises on the Nursling Industrial Estate, and the level of interest it has generated, shows that the South Coast is a region in which UK Investment Institutions and property companies are keen to invest, prompted by a market which is showing major signs of recovery.”
