Acting on behalf of R O’Dell Holdings Ltd, London Clancy have sold 36,38,40 Station Road and 1 West Lane, Hayling Island PO11 0ER.
The site and premises had the benefit of a Planning Consent for a new development of 18 apartments ranging from 1 bed to 3 beds plus 3 Retail Units over a site area of circa 0.16 Ha (0.40 acres).
The price obtained was in line with the guiding price of £1m Subject to Contract and was sold to a private developer.
Jim London of London Clancy comments, “This shows the continuing strong interest from developers for the right type of product, including mixed schemes in suitable locations.”
R O’Dell (Holdings) Ltd has a long association with the local area having bought 36 & 38 Station Road in 1989 and ran a hardware and DIY store through its subsidiary Hayling Hardware Ltd until 1996 when that business relocated to Elm Grove. R O’Dell Holdings is now a small family owned Property Company that is keen to improve the locality by replacing the current substandard buildings with a quality development which the community could be proud of. We have put a considerable amount of time and effort into liaising with Havant Borough Council planning officers and incorporating their comments into our proposals which secured the grant of planning.
The site provides a new shop (which could be subdivided into 3 smaller shops), 18 new flats, car parking and new public realm.
With the successful sale of the site R O’Dell Holdings intends to expand and develop a commercial scheme in the centre of Southampton.
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Acting on behalf of private investors, London Clancy has completed two new lettings on the popular industrial estate in Chandlers Ford.
Care Meds Ltd have taken a new 5 year lease on Unit 5 totalling 1,537 sq ft. Unit 12 totalling 3,124 sq ft was let to Measure My Energy Ltd also on a 5 year lease.
Both premises provide a modern high quality business unit configured over two floors providing production/storage on ground floor with fully fitted offices to the first floor.
Alex Welch at London Clancy comments "We are pleased that Units 1, 5 & 12 have all been let to new tenants with limited void periods incurred. There is still increased demand for good quality industrial units like the estate has to offer with stock leverls decreasing. Following a lease end there is currently one unit available at Brickfield Trading Estate, being Unit 16 which provides 2,855 sq ft. We would be pleased to hear of any requirements for any occupiers looking to relocate within Chandlers Ford area".
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Unit 1 Brickfield Trading Estate, Chandlers Ford, Eastleigh
PAT Testing have taken a new 5 year lease on Unit 1 Brickfield Trading Estate
The building provides a modern high quality business unit providing a total of 2,108 sq ft (196 sq m)
over two floors providing production/storage on ground floor and fully fitted offices to the first floor.
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London Clancy, acting on behalf of Greenway Property Investments Ltd has sold the investment comprising basement and ground floors of 60 High Street Alton Hampshire and which are fully let to Nero Holdings Ltd. Trading as Caffé Nero.
The lease has 5 years left unexpired and the price obtained was £715,000 Subject to Contract which showed a yield after allowing for costs of some 6.63%.
Jim London of London Clancy commented: “This sale emphasises the continuing strong interest being shown for quality investment properties in the Regions.”
Peter Hale of Hale and Partners and Jon Elliott of JP Elliott Chartered Surveyors acted for the Purchasers, Banbury Properties Ltd.
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