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Off-market value-add, town centre office investment acquisition

By October 2017 Transactions

ACRE Capital acquire off-market value-add, town centre office investment opportunity

ACRE Capital Real Estate, acting on behalf of RO Group, have advised on the off-market investment acquisition of 1 Dorset Street, Southampton, a value-add multi-let office refurbishment opportunity of 25,599 sq ft from Aberdeen Standard Investments. The price paid was 5,200,000 reflecting a capital value of only 203 per sq ft.

The property produces a total passing rent of 136,888pa., reflecting an average overall rent of 18.70 per sq ft on the let space and has a WAULT of 4.3 years to expiries and 2.3 years to breaks.

Location: 1 Dorset Street, Southampton
Property Type: Office
Transaction Type: Acquisition
Client: RO Group