Hurst Warne are pleased to confirm the recent investment sale of Beech House, Ancells Business Park, Fleet. A three storey multi let office building of 13,090 sq ft sold to private clients of Richard Hull Property Consultants.
The sale completed in November 2022 for £2.1m, which reflected a Net Initial Yield of 10.13%
Steve Barrett Hurst Warne said:
“Having worked with SREIT for the last 10 years on this small multi-let office asset, we reached a joint recommendation with our client that Beech House was no longer fit for purpose in their portfolio. Over this period the building was re-positioned in the market to secure lettings, with the aim of finding an investment buyer. With their wide network of investment contacts, and understanding of the local market, Hurst Warne were able to identify several buyers and secured the sale at a great price for the Fund.”
“We were delighted to be instructed by Schroders and cap off our long-term letting involvement in Beech House with this sale. Following a thorough marketing campaign we received significant interest, proving there remains a robust appetite for this type of property despite the current economic climate”.
For further information contact Steve Barrett via steve.barrett@hurstwarne.co.uk or 07894 899728
