Independence property deal

The industrial / warehouse building in Havant, near Portsmouth, has been sold for just over £3.5 million.
January 13, 2023
An industrial/warehouse investment near Portsmouth has been sold for just over £3.5 million.

Vail Williams acted for the purchaser in the acquisition of the 21,312 sq ft Independence at 3 Stanbridge Road, Havant, for £3,525,000.

A private property investment company, registered in Southsea, Hampshire, was the vendor and the new owner is a property investment business registered in Poole, Dorset.

Vail Williams, which has offices in Portsmouth, Southampton and Bournemouth, acted for the purchaser and Hellier Langston represented the seller.

Ben Duly, a senior surveyor with Vail Williams, said: “On a self-contained site of over one acre, Independence is a purpose-built industrial/warehouse unit finished to a high specification and is let at a current rent of £190,750 per annum to building materials supplier Danosa UK.”

He added: “Independence is located on Stanbridge Road in Havant, one of the main industrial areas within the town, with convenient access to Portsmouth, Southampton and Chichester. The location and letting income were of keen interest.

“We continue to be involved in a number of investment sales and acquisitions with owners look to capitalise and retained clients waiting for the right investment opportunities in 2023.”

Legal firm Lester Aldridge in Bournemouth acted for the purchaser and Beeton Edwards in Southampton acted for the seller.