Acquisition of Multi Occupational Unit in Oxford and Serco House on Bartley Wood Business Park, Hook
The office building, Northbrook House acquired for £5,294,000, extends to a total of 23,246 sq ft over three floors with underground parking. It has a varied breadth of tenants ranging from a PR Company to a major European systems integrating Company. The excellent transport communications along with its close proximity to London and to International Airports has created a diverse economic base attracting many high profile companies. The multi-occupation tenancy offers CGIS several opportunities for active asset management, capital appreciation and rental growth.
Serco House, a 24,027 sq ft pavilion style two storey building was acquired for the sum of £4,671,000 from Kennedy Wilson by way of a partial re-investment of the proceeds of the sale of 89 Albert Embankment. The existing tenant Serco Limited occupies the building for use of its head office on a long lease, as well as occupying two other buildings on the business park. CGIS intends to retain the property within its portfolio for two to three years enabling the company to benefit from future asset management opportunities. Bartley Wood Business Park is strategically located 45 miles south west of central London in an affluent commuter town attracting a wide range of large commercial clients.