Lambert Smith Hampton (LSH) acted on behalf of The Hargreaves Group in its £3 million purchase of Units A-B at Bourne Way Retail Park from Rowe Estates UK, a family-owned investment and development group based in Cornwall.
The 13,075 sq ft building, which is let to Dreams and Carpetright on 10-year-leases renewed in April and May 2017, provides a rental income of £208,389 per annum.
The Hargreaves Group was formed in 1965 and develops, manages and retains over 3,000,000 sq ft of high quality commercial and residential properties across the south east of England.
Grant Hobday, associate director in LSH’s South Coast retail agency, said: “We were pleased to help secure this significant acquisition for Hargreaves, which sits perfectly in its portfolio of commercial property in the region.
“Secure rental income from these large units in one of Salisbury’s principal retail parks will provide a good return on investment for our client.”
LSH is a multi-award-winning commercial property specialist and a leader on the South Coast in the industrial property, office space, retail and investment markets.
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