Lambert Smith Hampton (LSH) has successfully advised on the off‑market sale of Adanac North Phase II, a prime, multi‑let industrial estate in Southampton, on behalf of Oceanic Estates, to a managed fund at CBRE Investment Management (CBREIM).

Adanac North Phase II forms part of the established Adanac Park industrial location and comprises a modern, high‑quality estate of 11 units totalling approximately 141,000 sq ft, constructed in 2023. The scheme is let to a diverse range of occupiers across the industrial and logistics, trade counter, and urban logistics sectors, providing a strong and well‑secured income profile with clear reversionary potential.

The estate occupies a highly strategic position to the north of Southampton city centre, accessed via Junction 1 of the M271 and less than a mile from Junction 3 of the M27, offering excellent connectivity across the South Coast and onward access to London via the M3.

This acquisition further strengthens CBREIM’s presence at Adanac Park, following the purchase of Phase 1 in 2021 for a separate managed fund, and reinforces its long‑term confidence in both the location and the fundamentals of the Southampton industrial market.

Jerry Vigus, Senior Director at LSH, commented:

“Adanac North Phase II represented a rare opportunity to acquire a best‑in‑class, modern industrial estate in an established and supply‑constrained South Coast location. The off‑market process allowed both parties to transact efficiently while reflecting the depth of investor demand for high‑quality, income‑secure industrial assets with long‑term growth potential.”

The transaction highlights the ongoing demand for well‑let, ESG‑compliant industrial assets, particularly within established regional locations offering strong rental growth prospects.

The managed fund at CBREIM was advised by TT&G.

CBREIM – Callum Harvey, Chris Tucker, Tom James, Simon Jarvey

TT&G – Alastair Tyrell, Sam Whitaker