The unit is occupied by speciality global metals distributor TW Metals which has a long-term option on the lease of the property.
Will Edwards, Senior Fund Manager at Legal & General, said: “We received strong interest for this asset through a competitive bid process and as a result have secured strong returns for our investors.”
Jerry Vigus, Director – Capital Markets at LSH’s south coast office, said: “This was a hotly-contested sale, given the site’s prime location, quality of the tenant and high rental yield.
“Despite the uncertainties of the UK economy, the industrial and logistics sector on the south coast remains very active as investors are attracted to the robust occupational market. We are pleased to have secured this sale which represents a very positive outcome for seller and purchaser alike.”
Lambert Smith Hampton, which has offices in Fareham and Southampton, is a multi-award-winning commercial property specialist and has the largest transactional team in the Solent region, with 13 specialists working in the industrial property, office space, retail, leisure and investment markets.
For more information see www.lsh.co.uk