Land Securities has sold the Park Farm and Phases IV and V Albany Park, Frimley, Surrey to Schroders Exempt Property Unit Trust (SEPUT) for £11.85 million, an 8.03% yield. The portfolio is a mixture of retail warehouse and industrial units. There is a Focus (DIY) store, a 3,392 sq.metres (36,511 sq.ft.) warehouse let to Travelex Currency Services and small industrial units totaling 1,852 sq.metres (19,931 sq.ft.). Another substantial deal in Surrey has seen Mountgrange Investment Management agreeing to pay Scottish Widows £23.5 million for the Meadows Business Park, Camberley, for a yield of 8.75%. The park has 13,006 sq.metres (140,000 sq.ft.) of Grade A offices as well as a 1,486 sq.metres (16,000 sq.ft.) of storage space. Occupancy rates are currently 80% on the park with seven occupiers. Rob West of Mountgrange commented: “Meadows Business Park is a best in class office development. It was purchased at well below replacement cost with an attractive running yield which will increase upon letting the vacant space.”
The Kent, Surrey and Sussex Commercial Property Register
The Commercial Property Register for Kent, Surrey and Sussex is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Kent Surrey and Sussex. You can also find the latest commercial property news for this region.
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