A real estate firm has purchased a business park just outside of Southampton for more than £30 million.

Chalcroft Business Park on Burnetts Lane in Fair Oak has been purchased by Sirius Real Estate Ltd for £36.5 million.

The London and Johannesburg-listed property investor used funds from its £152 million capital raise in July to acquire the Southampton site.

Chalcroft, which is home to a 1.2-acre solar farm, is 80 per cent occupied and currently generates a net operating income of £2.1 million.

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The two vacant units are expected to add another £500,000 to the rent roll once let.

Chalcroft benefits from its position just north of "leading commercial centre and primary logistics hub" Southampton with direct motorway access.

Chief executive officer Andrew Coombs said: "The acquisition of Chalcroft Business Park adds a strong, income-generating asset to our portfolio.

"By leveraging the combined expertise of the Sirius and BizSpace platforms, we aim to enhance existing revenues while unlocking new income streams through hands-on asset management and development."

He added that Sirius is "well positioned to complete the acquisition programme initiated last summer" with additional capital available for investment.