Local steel fabrication firm Faulkner Fabrications has purchased Frampton House on Stem Lane Industrial Estate from GVA Grimley.
Acting on behalf of the LPA receiver, Roland Morgan of GVA Grimley, commercial property consultancy Lambert Smith Hampton (LSH) has managed the freehold sale of Frampton House on Stem Lane Industrial Estate in New Milton, Dorset, to Faulkner Fabrications.
Faulkner Fabrications was already renting on Stem Lane Industrial Estate and was looking to purchase a unit close by. The 10,437 sq ft industrial unit was sold to Faulkner for close to the asking price of £400,000 and includes ground and first floor offices and a secure yard.
The unit was part of a package which includes three additional buildings on the estate: Queensway House, a 23,000 sq ft office building, and two further industrial units – Forest House (14,000 sq ft) and Oregon House (13,300 s ft).
All four buildings were occupied by Peverel Services Limited; however they reduced their occupation by vacating Frampton House, which was sold to Faulkner with vacant possession, and they will vacate Forest House in Q2 2014.
Forest House is available for purchase with vacant possession from June 2014, quoting £490,000 (£35.00psf).
Oregon House and Queensway House are available as an investment, following the completion in January 2014 of two 10 year leases with Peverel Services Limited.
Elise Evans, Surveyor in LSH’s South Coast office, says: “We are very pleased to have sold Frampton House to Faulkner Fabrications and we are now bringing to market the three further units in the portfolio: Forest House, Oregon House and Queensway House. We are expecting high demand for these units so we urge any interested parties to get in touch.”
