Rockspring Buys UK Business Park
Rockspring Property Investment Managers has acquired a UK business park on behalf of the Rockspring Hanover Property Unit Trust (RHPUT). The property, Mole Business Park in Leatherhead, was sold by Hermes Real Estate Investment Management for £38.135 million (€44.4 million). The asset comprises 19 industrial units and three office buildings totalling 22,800 square metres.
“This acquisition offers strong rental growth potential given the low supply and strengthening demand in the south-west quadrant of the M25 [motorway] for good-quality office and industrial accommodation,” says Neal Shegog, fund director of RHPUT. “We also have the opportunity to retain tenants beyond their existing lease terms, improving the longevity of income and maintaining an attractive blended yield profile.”
RHPUT was formed in 1967 as an