CHINEHAM Park has been sold as part of a £430million deal.

Oaktree Capital Management and Patrizia AG have completed the deal to purchase three mixed use parks from Hermes Real Estate.

Chineham Park managing director Rupert Batho, said: "Chineham Park is one of the region's success stories, with a strong track record for attracting and retaining businesses.

“The purchase by Oaktree and Patrizia is an exciting step in the next phase of the park's evolution and with the existing management team transferring to the new ownership, we have the best team in place to build on the park's pedigree."

The business park was put up for sale in May along with two other MEPC sites – Hillington Park in Glasgow and Birchwood Park, in Warrington.

The former MEPC sites join Winnersh Triangle, in Reading and Watchmoor Park, Camberley in Patrizia's and Oaktree Capital Management's joint venture portfolio which also owns a range of commercial property including offices and large mixed-use business parks.

The joint venture is now one of the largest owners of business parks in the UK.

Mr Batho said: "In addition to the new ownership accelerating our refurbishment and development plans at Chineham Park, I can guarantee that, for our customers, it will be very much business as usual.

“Our hands-on style of management allows quick and flexible decision making, contributing to our enviable retention rates and enduring appeal for smart business."