King Sturge - Industrial Sale - Totton, Hampshire

Date: 19 Sep 2008

Morley Fund Management, on behalf of the Norwich Property Trust, has sold the freehold interest in Units 6 - 9 South Hampshire Industrial Park, Totton, to Ankers & Rawlings Developments Ltd for £ 3.86 million (£69 per ft²) showing a net initial yield of 8.25 %.

The property, constructed in the late 1980's, comprises a warehouse originally designed as four adjoining industrial units totalling 55,789 ft² (5,182 m²). Good loading facilities are provided with four loading doors and the eaves height is approximately 7.75 m.

The property is let to Tomy (UK) Ltd on a FRI lease expiring August 2015 (7 years unexpired) at a current passing rent of £336,750 per annum (£6.03 per ft²).

The vendor was advised by Morley Fund Management and King Sturge while JP Elliott and Newton Scott acted for Ankers & Rawlings.

South Hampshire Industrial Park, Totton