Hargreaves Group, a private family-owned investment and development Company specialising in commercial and residential property across the South East of England, today announces the acquisition of a retail warehouse asset in Salisbury for £2.65m.
The property comprises two units totalling 15,897 sq ft and is situated in a prominent position at the entrance to the principal retail warehousing park in Salisbury. The acquisition represents a net initial yield of 8.00%.
Tim Wilmer, Investment Director, Hargreaves Group comments: “The purchase consolidates our ownership presence in this location, provides secure income from two strong occupiers, and offers flexibility for future occupiers through a wide ranging planning use. The prominence of the site to the A36 gives rise to future re-development opportunities.
Hargreaves was advised by Moore Hunter & Partners.
The property will be managed in house by Hargreaves.