Office on Whiteley business park sells for £1.55m

AN OFFICE at a Whiteley business park has changed ownership – selling for £1.55m.

Monday, 14th January 2019, 12:00 pm
Updated Monday, 11th November 2019, 11:06 am
Two-storey St Andrews House, 4400 Parkway, Solent Business Park, Whiteley

In a deal through commercial property consultancy Vail Williams LLP, a private property investment company purchased St Andrews House, 4400 Parkway, Solent Business Park, Whiteley.

The two-storey Grade A office was sold for a net price of £1.55m with a stepped initial rent.

Russell Miller, a Vail Williams partner covering the Solent region, said: ‘Vail Williams’ Solent-based investment team was asked by the owner to dispose of the property investment, which was let by the practice last year for 10 years to LeadStream.

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‘An offer made by a private property investment company, close to the asking price, was accepted.’

St Andrews House, a detached building of 9,116 sq ft, is occupied by LeadStream, an online customer acquisition service for the financial services industry.

Vail Williams has acted for a number of investors over the years at the St Andrews House site, including acquiring the land for Rok Development, which speculatively developed The Links office campus, upon which St Andrews House was built in the early 2000s.