Commercial property

New owner takes away Solstice Park food outlets

Written by Peter Davison on .

KFC and Pizza Hut at Solstice Park

 

Pizza Hut and KFC units at Solstice Park in Amesbury have been sold for £2.55 million.

The RO Group sold the units to London Investment Holdings Ltd.

Both units are let to the well-known food retail brands on long leases expiring in 2030/2031 respectively.

David Kershaw, group real estate director at The RO Group said: “The proceeds from this off-market disposal represents a healthy premium to book value, and when added to the cash generated from other recent disposals leaves us in a healthy position to look at new acquisition opportunities.

"In tandem, we will continue our programme of investment in our existing assets.”

“We maintain an active interest in Solstice Park through Helix, which we believe is an attractive location for retail and commercial businesses given its excellent location, benefitting significantly from the A303 infrastructure improvements in a key regional gateway location.

"As commercial interest in the area grows this new development will provide much-needed infrastructure and space for businesses to develop their production in an area which allows them access to the capital, the port of Southampton as well as Bristol.

“We recently started construction on Helix with phase one consisting of 11 new trade counter units ranging in size from 3,197 sq ft to 10,408 sq ft and available on leasehold.

"Later phases of Helix will see industrial and warehouse design and build opportunities ranging in size from 10,000 ft2 to 85,000 ft2. These could be tailored to an end user’s specific requirements.”

The RO was represented by Womble Bond Dickinson. London Investment Holdings Ltd was represented by Peacock & Co Solicitors with Lunson Mitchenall acting as agents.