A prime trade park on the South Coast has been acquired by a private property company, advised by property consultancy Vail Williams.
Ben Duly, a Vail Williams’ Associate working out of the firm’s Bournemouth office, said: “Single-owned trade parks and industrial estates are rarely available to buy freehold in the region.
“We introduced the opportunity to our client and were then instructed to acquire this fully let trading park in a prime location in the BCP conurbation, with respected commercial tenants on long-term leases.
“Vail Williams has also been appointed by the new owner as the trade park’s managing agent.”
Occupiers at the 1.7-acre trade park are Micheldever Tyre Services, Toolstation, Natural Stone & Timber and SIG Trading.
The trade park was marketed freehold on behalf of the private owner at £3.95m.
Ben said: “The purchase price is undisclosed; attractions of the acquisition include not only the robust tenants and WAULT [weighted average unexpired lease term] to expiry of seven years but the excellent rental growth prospects.”
Built in 2002, the estate has two detached buildings with fenced and gated yards and a terrace of three units extending to nearly 24,400 sq ft, with 5.4m-5.5m internal eaves heights and 7.7m-9m ridge heights.
Law firm Ellis Jones in Wimborne and property consultancy Goadsby in Bournemouth acted for the vendor, a private client.
Law firm Lester Aldridge in Southampton, along with Vail Williams, acted for the purchaser.
Vail Williams has acted on behalf of a number of clients in relation to trade park deals In Dorset, including the £7.7m purchase of Poole Trade Park in 2022 – the site has 10 trade counter units.