Freehold Industrial Investment sold in fast track deal

Pullen Associates have sold a 4,013 sqft industrial investment in an “off-market transaction”.  The property in Cannon Street, Shirley, Southampton was let to a local business on a lease until March 2012 with planning consent for partial retail use.   The freeholders instructed Pullen Associates to advice on the re-letting of the property if the tenant were not to renew their lease in 2012 and also with regards to a possible sale. 

Richard Pullen, Director of Pullen Associates, said that “the owners where were not sure if they wanted to continue owning the property and did not want to face the prospects of the property potentially being vacant and therefore were considering various options for the property.   Richard Pullen was able to arrange a sale of the freehold to a cash-purchaser, and the transaction was able to complete within a matter of a few weeks of a sale being agreed.