Property investment company Wessex Trust, which floated recently, is set to acquire the freehold of the 18,580 sq m (200,000 sq ft) Bower Hill Trading Estate on Lancaster Road in Melsham, Wiltshire from the West Wiltshire District Council for £1.6m. The deal is subject to Wessex shareholders’ approval.
The Bower Hill Trading Estate is fully let to Avon Rubber at £267,112 pa on a lease expiring in 2004.
News of the deal emerged with the announcement of Wessex’s results, which reveal a loss of £94,502 on a turnover of £1.5m. During last year, Wessex increased the amount of floor space it owns by 48% to 38,191 sq m (411,102 sq ft).
Most of Wessex’s holdings are located to the west of the M25 through to Bristol and are predominantly industrial.
EGi News 16/07/96
