Threadneedle Property Unit Trust has acquired Hampshire-based Solent Gate Industrial Estate for £3.8m from AXA Real Estate.
The 50,000 sq ft industrial estate, off Speedfields Park in Fareham, comprises seven units. It was sold for £3.8m, reflecting a net initial yield of around 8.2%.
City Plumbing Supplies, part of Travis Perkins, and baker Rich Products, will remain as tenants at the site.
Jones Lang LaSalle acted on behalf of Threadneedle; AXA was advised by Lambert Smith Hampton.
The exchange and completion was completed over a 10-day period.
joanna.bourke@estatesgazette.com
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