TT Group (formerly Telereal Trillium) has sold an industrial site at the Solent Industrial Estate in Southampton for £5.7m to an undisclosed private company who are incorporated in the United Arab Emirates. The buyer was advised by LSH.
The 1.85-acre site, which is split into two self-contained units, was acquired by TT Group’s property investment team in December 2022.
Unit 30, a self-contained unit is let long-term to Sentry Self Storage Limited, a family-owned self-storage business established in 1988.
In June 2023, TT Group announced that it had secured the international freight forwarder Active Freight Management as a new tenant for Unit 29, on a 10-year lease at a rent of £196,950 per annum.
Solent Industrial Estate is an established industrial park with good access to Portsmouth, Southampton, including the airport, and London. Other occupiers in the area include Screwfix, Wickes, DPD and Magnet, as well as those at the nearby Hedge End Retail Park including Sainsbury’s and Marks & Spencer.
Paul Munday, Head of Investment Acquisitions at TT Group, commented: “Our investment in Solent Industrial Estate demonstrates TT Group’s ability to identify assets with potential to add value and crystalise upside through active asset management. With the site now fully let, we felt it was the right time to exit. Our team continues to target similar investment opportunities with future enhancement angles throughout the UK.”
Allsops LLP represented TT Group.
