Office investment Aerodrome House at Oaklands Business Park, Gosport has been sold at 9.25% by property consultants Vail Williams South Coast Property Investment Team on behalf of the private owner.
Guided at £900,000, this two-storey property in Gosport generates £87,500 per annum income and was acquired by a private property investment company.
Following the change of ownership, Vail Williams has received asset management instructions from the new owners, with responsibility for maintaining the external parts of the communal areas, roads and landscaping.
The consultancy has also been instructed to manage the structure of the 7,096 sq ft building, with tenants responsible for the upkeep of the offices.
Aerodrome House comprises four offices, most of which are let to Southern Health NHS Trust, with the ground floor on unit 4 leased to accountants Brent King.
Russell Miller, Vail Williams’ regional managing partner on the South Coast, said: “Based on the marketing sale price of £900,000, and rental income, the net initial yield on Aerodrome House is 9.25%, assuming purchaser costs of 5.63%.
“This property asset management instructions from the new owners, and the initial freehold investment sale, illustrates Vail Williams’ multi-disciplinary service offering to clients.”
Vail Williams’ associate Ben Duly acted for the vendor in the freehold investment sale of Aerodrome House, which has 27 allocated parking spaces, who commented the commercial property investment market remains strong on the South Coast from investors seeking higher yields than other investments.
Acting on behalf of the new owners, Vail Williams’ senior surveyor Diana Southwell oversees the management external areas and the structure of the building.
Located on the western side of Aerodrome Road, which connects with the Fareham Road
(A32), the main road between Fareham and Gosport, other nearby occupiers include Basepoint, Fitness 24, Monkey Bizness and Starbucks.
Brockhurst Gate, half a mile away, has Costa Coffee, McDonald’s, M&S, Lidl and Home Bargains.
