Matthews & Goodman - Retail Sale - Southampton, Hedge End Trade Park

Date: 26 Nov 2002

Quadrant Estates have secured funding from Scottish Widows Investment Partnership for the purchase and development of their £10 million Hedge End Trade Park, Southampton.

The scheme will total approximately 4,792 sq m (51,580 sq ft) and will provide 12 trade units together with 2 restaurants. It is centrally located within Hedge End opposite Homebase, PC World, Currys, Marks & Spencer and Sainsbury's and adjacent to McDonald's.

A number of pre-lets have been agreed, and three units, which remain available range from 255 sq m (2,750 sq ft) to 418 sq m (4,500 sq ft).

Work on site is due to commence shortly with completion scheduled for June 2003.

The forward funding sale reflects an initial yield of approximately 7.5%. Matthews & Goodman and DE & J Levy advised Quadrant Estates on the funding whilst Scottish Widows were represented by Joiner Cummings.

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