A real estate company is selling an industrial site in the UAE for £5.7m.

A UK property firm has sold an industrial site in Hedge End to an undisclosed private company from the United Arab Emirates for £5.7 million. TT Group, formerly known as Telereal Trillium, is one of the UK's largest private property investment and development companies.

In December 2022, the Solent Trading Estate industrial site on Shamblehurst Lane was acquired by TT Group's investment team. They have now announced its sale for £5.7 million.

The name of the buyer was not disclosed, but it is known to be a private company registered in the United Arab Emirates. The firm said the buyer was advised by commercial real estate consultants and real estateagency Lambert Smith Hampton (LSH).

Paul Munday, head of investment acquisition at TT Group, said:"Our investment in Solent Industrial Estate demonstrates TT Group's ability to identify assets with the potential to add value and generate operating income through active asset management.

The 1.85 acre site is divided into two separate blocks. Block 30 is leased on a long-term lease to Sentry Self Storage Limited, a family-owned self-storage business established in 1988. In June 2023, TT Group announced that it had entered into an agreement with international freight forwarder Active Freight Management to become the new tenant of Block 29 for a term of 10 years at a rent of £196,950 per annum.

The area is also home to Screwfix, Wickes, DPD and Magnet, as well as Hedge End Retail Park, which includes Sainsbury's and Marks & Spencer.

TT Group noted that Solent Industrial Estate is an established industrial park with good access to Southampton, Portsmouth, Southampton Airport and London.