AN investment firm has spent £37m on a Southampton industrial park which it says will provide it with a “long, secure income”.

Endeavour Park, located on the Millbrook Trading Estate, has been acquired by Aviva Investors after taking advice from Colliers International.

It benefits from being close to the docks, as well as major road and rail connections and nearby Southampton Airport.

John Hanson, national investment director at Colliers International, said: “Endeavour Park is a prime investment providing Aviva with long, secure income.

“The investment is let to three tenants of institutional quality with over one third of the income benefiting from guaranteed rental uplifts.

“The economic expansion combined with a recovering manufacturing sector has resulted in stronger levels of occupier demand, which in turn has placed an increased upward pressure on rental levels.”

Facilities The 15-acre park includes warehouse, distribution, office, research and development facilities over 280,000 sq ft and generates a total rental income of more than £2m.

Colliers International acted on behalf of Aviva Investors during the purchase of the site, which houses tenants including Selco, UPS and Selex.

Louise Swinden, at Aviva Investors, said: “We are pleased with this acquisition. It provides a low-risk investment with a secure income, suiting the requirements of the fund.

“The asset also benefits from exposure to the fast-growing parcel delivery and trade sectors.”