Family-owned trading company, The RO, has announced the sale of the Pizza Hut and KFC units at Solstice Park, Amesbury, to London Investment Holdings Ltd for a total of £2.55m.
Both units are currently let to the well-known food retail brands on long leases expiring in 2030/2031 respectively.
David Kershaw, Group Real Estate Director, the RO commented: “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.”
The RO is invested in The Helix at Solstice Park, a group of trade units that form part of the 160-acre mixed-use Solstice Park.
“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.
“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,” David added.
Image: Google street view
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