The Body Shop’s office in Littlehampton has been bought in a £25m deal.
London-based Pears Property has acquired buildings 5, 6, and 7 at Watersmead Business Park from a private Middle Eastern seller. The acquisition price reflects a net initial yield of 6%.
The Body Shop leases 55,000 sq ft of office space in one building and 133,000 sq ft across two warehouses. The site is the company’s main base outside of its central London corporate office.
The site was bought on behalf of the Pears family. Pears Property managing director Jonathan Rose said the firm had secured a “well located property with an excellent tenant in place”.
Mutual Finance acted for Pears Property.
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