Stoneham Place, Eastleigh
Acquisition of Office Complex, Southampton
The freehold interest in Stoneham Park, Eastleigh has been acquired by Capital Trust Group on behalf of a Middle Eastern investor from Jeeves Investments LLP. Jeeves Investments LLP is a joint venture between AEW and Mountgrange.
The purchase price of £9 million reflects a net initial yield of 7.46% and a capital value of £188 per sq ft.
Finola Reynolds of the Capital Trust Group commented that “this acquisition provides our investors with a good income return from a strong tenant with an unexpired lease term in excess of 10 years. This represents The Capital Trust Groups first investment acquisition since 2006 and marks the start of a renewed drive into the UK property market.”
Nightingale Partners represented the purchasers.
