National property consultancy Lambert Smith Hampton (LSH) has overseen the sale of an industrial investment site on a well-established Southampton business park.
The South Coast capital markets team at LSH advised Minton Southampton LLP on the disposal of Unit 10, Chancerygate Business Centre, to Hans Motor Holdings Limited, transferred as a going concern.
Sarah Capon, capital markets surveyor at LSH’s South Coast office in Southampton, said the sale was the latest in a number it has presided over this year. The increased activity demonstrates that the region is showing major signs of recovery and is a location that local, regional and national investors are keen to invest in.
The 2,667 sq ft unit, with parking, sold for £249,000 and has a net initial yield of 8.1%.
The sale was completed via CSC Retirement Benefit Scheme, a small self administered scheme (SSAS) for R&M Electrical. Hans Motor Holdings Limited has a 10-year lease from October 2009.
“This sale is a good example of investors who are looking to the regions for higher yields and are attracted to locations, covenant and buildings with good fundamentals,” added Sarah.
