Trescal's premises at Blackbushe business park in Yateley, Surrey, has changed hands for £3.25m, or a 6.4% net initial yield.
A private investment vehicle, advised by Altitude Investments, has bought the 25,000 sq ft building close to the M3 from an undisclosed vendor.
The building is let to Trescal, a wholly owned subsidiary of Paris-based Trescal Group International, on a full repairing lease until January 2027 with no breaks at a rent of £9.17 per sq ft. Nearby business parks are achieving rents in excess of £11 per sq ft.
The purchase price represents a net initial yield of 6.4% rising to just under 7.5% in 2022, off the back of a fixed rental increase.
Kingstons (Guildford) acted on behalf of the vendor.