An entire waterfront industrial estate close to the centre of Southampton has been put up for sale by its family owners.

Willments Shipyard in Hazel Road, Woolston, Southampton, with an unrivalled one-kilometre-long frontage to the River Itchen, should command at least £7m.

It is one of the most prominent waterfront complexes on the river and currently boasts a rental income in excess of £610,000 a year from its 27 tenants. They include transport companies, engineering and marine organisations among a number of plcs, limited companies and individuals.

In all, it extends to close to 20 acres on the eastern bank of the river, and because it is only a mile from the city centre, and includes a wet dock basin and three acres which could potentially be redeveloped, is expected to generate plenty of interest among industrial investors, marine companies, and property interests. An additional 7.25 hectares of foreshore are leased from the Crown Estate.

Managing director Avia Willment, who has run the property for the last ten years has decided to take advantage of the buoyant market for freehold property and to spend more time on her passion for sailing. She has recently restored a classic 8m 1920s sailing yacht named Siris which she races internationally and she is also planning to sail across the Atlantic.

She said: "My family have owned the shipyard since the 1960s but it is now time to move on.

"This is a fantastic opportunity for a property developer, marine operator, boating enthusiast or industrialist to take over."

Property agent Andrew Archibald, senior associate at Humberts, said: "We are inviting expressions of interest in writing from seriously interested parties. The property will be sold either by private treaty or informal tender.''

The property is on the market through joint selling agents Humberts - tel:023 8063 4744 and King Sturge - tel: 023 8023 2882.