CCLA acquires six office buildings in Fareham, Hampshire on Solent Business Park

£9.85m purchase on behalf of COIF Charities Property Fund

Article posted: 13 Jan 2011

Acting on behalf of COIF Charities Property Fund, CCLA Investment Management Ltd has acquired office space in Fareham, Hampshire.

CCLA has purchased the freehold interests of six office buildings on Solent Business Park from property group Goodman for £9.85m at an initial yield of 8.44% net of costs of 5.7625%.

The portfolio comprises six modern office buildings let to a range of tenants including Shoosmiths Solicitors, Aviva and Matchtech Group UK with an average weighted unexpired lease term of approximately seven years.

Other occupiers at Solent Business Park's offices in Hampshire include National Air Traffic Service, Regus Serviced Offices and ITV Meridian.

CCLA Investment Management Ltd was represented Capita Symonds’ real estate division while the vendor was represented by Strutt & Parker.

Posted by Dan