Representing the biggest office investment in Southampton city centre in 2014, the 50,000 sq ft Brunswick Gate building was acquired by Lambert Smith Hampton for Fidelity Investment Managers for £11.25m. It is let to NatWest for an unexpired term of six years, equating to a net initial yield of 7.83%.
The building was openly marketed and was sold by Aviva Investors via their agents DTZ, and Lambert Smith Hampton steered Fidelity through the best bids process to a successful acquisition.
Jerry Vigus, Director of South Coast Capital Markets for Lambert Smith Hampton comments: “The team at Lambert Smith Hampton provided comprehensive occupier and investment advice to Fidelity to enable them to successfully acquire Brunswick Gate.
“It has been widely reported that we are seeing an increasing shortage of grade A office space and for Fidelity to secure Brunswick Gate – the biggest office investment in Southampton city centre – is a success that they can be proud of.”
Lambert Smith Hampton was acting as a joint agent with Whitmarsh Holt Young.
