Trinova Real Estate Acquires Grange Road Business Park, Christchurch

Trinova Real Estate has acquired a single let office campus at Grange Road Business Park in Christchurch, Dorset.

The property which totals 150,191 sq ft was acquired for an income focused mandate of Trinova Real Estate for £24.2m.

Let in its entirety to BAE Systems Ltd, the property has an unexpired lease term of circa 14.5 years and is subject to five yearly rent reviews subject to inflationary increases.

Grange Road Business Park is situated to the east of Christchurch town centre and consists of six core buildings together with a number of smaller ancillary storage and maintenance units.  The business park occupies an area of approximately nine acres and is well located with Bournemouth Airport only four miles away.

Sam Resouly at Trinova Real Estate said: “We are delighted to complete the acquisition of this asset which provides long term, secure income underpinned by an attractive residual site value.”

http://www.costar.co.uk/en/assets/news/2017/May/LaSalle-disposes-of-Dorset-campus/