Cowes Harbour Commission has bought the 8.7-acre Kingston Wharf site on the Isle of Wight.
CHC paid National Grid Properties £2m for the Kingston Road site. It includes three buildings totalling 14,765 sq ft, which generate rent of £169,917 pa, as well as 1.4 acres for redevelopment opportunities.
Michael Green, head of Jones Lang LaSalle, Southampton, which advised the vendor, said: “There was a lot of interest in Kingston Wharf, but in the end we are pleased that the site has been acquired by the body responsible for the on-going management and upgrading of the river.”
Vail Williams acted for the buyer.
joanna.bourke@estatesgazette.com
