Several local businesses in Farnham and Alton could find themselves with new landlords soon, with two well-known industrial estates being put up for sale by their owner. 

The Grove Bell Estate in Wrecclesham, close to the Farnham bypass, and the Grove Park Industrial Estate in the Mill Lane area of Alton, both owned by GMS Estates, are being offered for sale as part of an investment portfolio of industrial properties across the south east of England.

The two industrial schemes, along with a third industrial estate in Luton, Bedfordshire, have come to the market through the London-based agent Gerald Eve, which is seeking offers in excess of £15,100,000 for the portfolio.

The 1.14-acre Grove Park Industrial Estate in Alton has six separate industrial units ranging from 3,110 to 3,130 sq ft, and totals 18,717 sq ft. The larger Grovebell Estate in Wrecclesham has 13 units with a total floor area of 52,482 sq ft. Together, the two estates produce an annual income of over £780,000 annually.

Nick Reeve of Curchod & Co in Farnham believes there will be good interest in the portfolio of properties from investors, as demand for industrial space across the region remains strong, and said: “Despite the challenges faced by the wider economy, businesses are still looking for modern, adaptable and accessible industrial/warehouse properties from which to operate, and the two local estates are very popular with occupiers, a fact reflected by the very low vacancy rates.”

He suggested the level of demand from businesses in the industrial market, particularly for well-located, good-quality properties remains strong, due to the continuing lack of supply across south-west Surrey and north-east Hampshire.

“The imbalance of supply and demand has been a feature of the market for some time,” said Nick.

“Being aware of this demand from manufacturing and distribution businesses, investors still consider the industrial and distribution property market to be a safe bet, and where assets are available, investors are looking to add value through regenerating, repurposing and refurbishing existing properties to provide business occupiers with top-quality accommodation.

“We know of a number of other properties in the local area where plans are being progressed to bring obsolete buildings up to the standards expected by modern businesses,” he added.