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Double success for Kingsbridge as it secures sales of Spring Park and Linea House

January 23, 2025

Double success for Kingsbridge as it secures sales of industrial development Spring Business Park for £14.775m and office scheme Linea House for £2.8m

Kingsbridge has sold Spring Business Park, a speculatively-built prime industrial warehouse development in Havant, Hampshire, for £14.775m.

The sale of the scheme, owned by Kingsbridge’s pension fund, marks a double success as we completed the sale of our refurbished office project Linea House just before Christmas.

Spring Business Park, which comprises 12 high quality industrial warehouse units at the New Lane Industrial Estate, was completed in November 2021 and achieved 100% letting to 10 tenants with the assistance of agents Vail Williams and CBRE.

CMS and Michelmores were the legal advisors for Kingsbridge on the sale to a local authority pension fund.

Linea House, at Ancells Business Park, Fleet, was acquired by Kingsbridge in 2016 and extensively refurbished under Kingsbridge’s management, becoming fully let to six tenants. It sold to a family trust pension fund for £2.8m through the online agency Singer Vielle, which specialises with a leading tech focus in selling investment property.

Penningtons Manches Cooper were legal advisors for Kingsbridge, following the success of Hurst Warne and LSH in fully letting the property.

Greg Lukasiewicz, Investment Director at Kingsbridge, said: “These two sales are great results for Kingsbridge, enabling us to recycle capital having completed our business plans for both projects.

“Spring Business Park is a prime, A Grade, fully-let, reversionary asset that met demand for high-quality industrial workspace, while the sale of Linea House against a challenging office investment market demonstrates our capability to add value and provide the right product to satisfy occupiers and investors while achieving our return targets.

“The two sales have generated capital which will be redeployed into new projects in line with our mission to be the eading provider of exceptional workspaces across the South.”

For more information about Kingsbridge’s portfolio of industrial and office projects, see our projects.

Photograph is of Spring Business Park.