Unit C Solent Business Park, Fareham
Published 1st August 2012
Property - Modern AC offices
Floor area - 53,000 sq ft
Purchase price - c. £13.5m
Claymore Role - Acquisition & asset management
Claymore Group, acting on behalf of Gulf based propco, Rhine Property Investments, has acquired a 53,000 sq ft office investment from Legal & General for £13.5m.
The property, located on Goodman’s 130 acre Solent Business Park near Southampton, is let to Zurich Insurance for a further 10 years at an annual rental of £1.035m, showing a net initial yield of 7.25%.
Unusually for an asset of this quality in the current market, Claymore was able to use its industry contacts to identify the opportunity and secure the deal “off-market” for our client.