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Hellier Langston complete Ampress Park investment sale
- Author: Jason Webb
- Date: 13th January 2020
Hellier Langston are pleased to confirm that they have recently completed an investment sale of two industrial units in Ampress Park, Lymington. The properties were sold from a private investor to Lewis Investment, an independent financial services company.
Units 210 & 215 Ampress Park consist of 9,557 sq ft of ground floor space plus a 1,160 sq ft mezzanine. The units have been sold with the tenants in situ and it is intended that this tenancy will continue. The units are leased by Elliotts, Hampshire’s leading independent builders merchants. This Ampress Park base is one of 13 premises occupied by the company.
The units are set up as warehouse/trade counter premises providing an excellent asset management opportunity with the potential for good reversionary rental uplifts.
Ampress Park is a thriving industrial estate popular with local, national and global businesses. Situated off the A337 Southampton Road and close to Lymington town centre, the units boast an excellent location with easy access to the M27 to Southampton and the M3 Northbound.
Hellier Langston has a long history with Ampress Park, with their involvement stemming from the Park’s inception in 2002. They were taken on by the Park’s developers UBS, a global financial services company, and their project managers at the time, Frobisher Ltd, to work with them in the marketing of the units.
The Park covers an area of circa 35 acres and consists of circa 100 units that are currently utilised by businesses such as kitchen and bathroom suppliers, construction companies, cosmetics manufacturers, boat builders and automotive businesses as well as others. The site is also home to the new Lymington New Forest Hospital which opened in 2007.
Although Hellier Langston sold UBS’ final holding on the estate (Unit 360) in February 2018, they’ve continued to be involved with Ampress Park, largely due to their extensive knowledge and contacts. They acted as letting agents for Travis Perkins on the new units that were built at the entrance to the estate in 2017.
More recently, Hellier Langston have acquired the hospital car park on Plot G2 for New Forest District Council, who intend to hold this as an investment. This latest investment disposal continues their involvement on an estate where they have transacted over 80% of the deals in the last 18 years.
Jason Webb, Director of Office Agency, Residential and Commercial Development and Investment at Hellier Langston said:
“This sale is the latest in a string of successful transactions handled by ourselves on behalf of our clients. Ampress Park is probably the best industrial estate within the New Forest, and space there is in high demand. The parties on both sides of this transaction were very pleased with the service we provided. We were available to advise through the whole process to ensure the sale was harmonious for the clients at all times.”
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