Mon, 20 Feb 2012 | COMMERCIAL PROPERTY
A business park in Winchester, Hampshire has been sold for over £7 million.
The Southern Daily Echo reports that Winchester Trade Park has been bought by Hargreaves Group, represented by national commercial property consultants Lambert Smith Hampton (LSH).
The 50,000 sq ft business park includes 16 commercial units, currently occupied by businesses such as Topps Tiles, Carpetright, Sally Hair and Beauty and Bathstore. The site is accessible from the M3 and there are two warehouse units available for let, sized between 2,200 sq ft to 4,500 sq ft.
Jerry Vigus, director of LSH’s capital markets team, said the business sale had stopped the business park from having to go into receivership.
He told the Southern Daily Echo, “Aware that the owners of Winchester Trade Park were in distress and that the park was likely to go into receivership, we were able to act quickly and secure the property off market.
“Recognising Hargreaves’ investment interest, we were able to agree terms and complete the deal within tight timescales over the new year.”
John Butt, director at LSH, added that whist this year is expected to be tough economically, the south coast remains “relatively resilient”.
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