Industrial development acquired in seven-figure deal

A seven-figure deal has completed on a major industrial unit in Farnham.

Henley-in-Arden based property firm Rainier Developments has purchased 68,000 sq ft of warehouse and office space on Farnham Trading Estate from Southco Manufacturing.
 
Rainier has acquired the property with a view to refurbish the property to higher specification before renting or selling the unit as a whole or in smaller units, in an effort to meet the ongoing demand for commercial property space.
 
The property which features two separate units with car parking also includes a combined 57,600 sq ft of warehouse and two-storey office space. The unit adjoining – Ashley House has 10,600 sq ft of space taking in a 7,000 sq ft warehouse and two-storey offices.
 
Kieran Bray, development director at Rainier Developments said: “Demand for commercial property space remains strong across a variety of sectors, despite the wider challenging economic backdrop, which is underlined by the strong interest we are already seeing in these units.
 
“As a firm we pride ourselves on investing in developments that help to enrich the communities that they serve, and we are looking forward to welcoming new businesses into these units in the near future which is likely to provide additional investment and job creation for the Fareham community.”
 
Law firm Shakespeare Martineau represented Rainier Developments on the purchase, and the property is being jointly marketed by DTRE and Curchod & Co.