A MAJOR business park in Basingstoke has been bought as part of a deal totalling £430million.
Hermes Real Estate has agreed the sale of Chineham Park, in Crockford Lane, Chineham, to Oaktree Capital Management and Patrizia Immobilien UK.
Two other business parks in Warrington and Glasgow, also owned by MEPC, a divisional company of Hermes Real Estate, were included in the sale.
As reported by The Gazette in May, Chris Taylor, the chairman of MEPC, said the business park was put on the market to reinvest in others parks in the growing science and technology sector.
Chineham Park will now be managed by Patrizia Immobilien UK.
Mr Taylor, who is also the chief executive of Hermes Real Estate, said: “We are delighted to confirm the sale of these three relatively mature estates, which have been well managed by the MEPC team for many years, at a point in the cycle when we are seeking to redeploy capital and invest into estates that will benefit from what we regard as the emerging growth sectors of the UK economy.”
Rob Brook, head of portfolio management at Patrizia Immobilien UK, added: “This considerable acquisition adds three high quality assets to our expanding UK-wide portfolio.”