A PROMINENT site at a Dorset business park has been sold for approximately £1.4 million.

The sale of 2 Cold Harbour Business Park, Sherborne, was conducted by Nettleship Sawyer on behalf of a local businessman.

The sale price equates to a net initial yield of 5.25 per cent.

James & Sons acted on behalf of the purchaser, a Poole-based property company.

The site, which includes a refurbished two-storey building, covers 2,958 square metres and comes with 37 car parking spaces.

It is let to Aviation Training International Ltd on a 21 year lease from June 9, 2006 at a current rent of £77,148 per annum, which equates to £8.90 per sq ft.

Planning consent was granted in 2005 for the creation of Unit 2C a two-storey office building with a gross floor area of 343 square metres.