Private investor syndicate Albemarle has completed a trio of deals totalling more than £20m and assumed full control of Fairoaks airport in Surrey.
It has bought the balance of the operational land at the airport from the administrator to Erinaceous for £5.1m.
Albemarle, which is operated by Egan Lawson, now owns the entire 350 acre airport, which could be expanded with a runway extension and further development.
It has also bought the second phase of the Hough Retail Park on Lichfield Road in Stafford for £5.3m from Liberty Mercian, a joint venture between Liberty Properties and Mercian Developments.
It is prelet to Pizza Hut and KFC, and a 61-bed hotel is let to Travelodge. The annual rent is around £300,000. Albemarle already owns the 120,000 sq ft first phase.
In Cardiff it has bought the long leasehold of St David’s House for £9.4m – a 9% yield – from Quintain Estates & Development. The property has 84,225 sq ft of offices and Cardiff City Council has a 144-year lease expiring in July 2128 at £896,039 a year.
Savills advised Quintain.