UK commercial property developer Graftongate and Bridges Fund Management have sold an industrial asset unit in South East England.

The pair have sold the Nursling 135 asset built on a six-acre site at Nursling Industrial Estate to an unnamed private investor for an undisclosed sum.

Nursling 135 is the first development from the partnership between Graftongate and Bridges, following their joint acquisition of the site two years ago.

In June 2023, Graftongate and Bridges jointly acquired a 2.4-hectare site near Southampton. They subsequently submitted a planning application to develop an industrial/logistics unit at Nursling Industrial Estate, with an anticipated £40m (€46.7m) investment in the project.

Alex Thomason, director at Graftongate, said: “This deal reflects strong investor demand for well-located logistics space, and demonstrates how sustainable development can deliver both environmental impact and commercial value. We’re proud to have delivered a high-quality building in partnership with Bridges.”

Henry Pepper, partner at Bridges Fund Management, said: “This EPC A+, net zero carbon development is a great example of Bridges’ ongoing commitment to developing highly sustainable industrial buildings, which are increasingly attractive to a range of occupiers and investors looking to reduce operating costs and meet their own net zero goals.

“Our partnership with Graftongate has allowed us to regenerate this underused brownfield site and create a development that will support local employment growth.”

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