Le Masurier have recently acquired the freehold interest in a modern purpose built industrial and office headquarters, extending to approximately 50,000 sq ft on the established Chandlers Ford Industrial Estate strategically located in close proximity to both the M3 and M27.
The tenant, GEA Process Engineering, have occupied the site for many years, with a new building constructed in 1995 and GEA are currently paying a rental of £360,000 per annum. GEA are one of the world’s leading manufacturers of processing systems for granulation, coating and drying of pharmaceutical products.
Le Masurier paid approximately £4.6m for the freehold which equates to an initial yield of approximately 7.25%.
The vendor was a private property company.
AHBN LLP advised the purchaser and Legat Corbishley the vendor.
Brian McCarthy, Le Masuriers Managing Director said “This is a tremendous addition to our ever growing UK property portfolio and takes our investment in the UK to over £20m since March. I am pleased that we are successfully pursuing our strategy for growth despite volatile economic conditions.”