Buzz People

Fareham business park bought for £20m

Fareham Trade and Business Park has been acquired in a £20m deal supported by commercial property specialist at Lambert Smith Hampton.
Agents at LSH's South Coast offices acted for asset manager Standard Life Investments in its acquisition of the park, with the purchase price said to reflect a net initial rental yield of under 5 per cent.
The park, in a prominent position fronting on to Fareham Road, had recently been redeveloped by Oceanic Estates and incorporates more than 135,000 sq ft of property on 11.3 acres.
Occupiers include KFC, Toolstation, Formula One Autocentres, Encon and Strongroom Self Storage. An additional vacant plot has consent for a drive-thru operator or trade counter/retail unit.
To the rear of the park, business park tenants include Encon and the European headquarters of North Sails plus additional development sites, which are currently let as open storage.
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