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ACRE Generates Life Science Heat From Oxford Gas

By February 2022 Transactions

ACRE Capital have advised Mayfair Capital on the sale of Building 2600, Oxford Business Park to Royal London for a price of £61,450,000 reflecting a net initial yield of 2.96% and a capital value of £747 per sq ft.

2600 Oxford Business Park comprises of a striking 82,258 sq ft HQ office benefiting from impressive ESG credentials, which was originally developed for Centrica in 2013. The building is single let to GB Gas Holdings Ltd. on an FRI lease until October 2029, but with a tenant break option in October 2027. The tenant is no longer in occupation, unlocking the opportunity to undertake lab-enabling works in order to capture the Life Science potential of the building.

Location: Oxford
Property Type: Life Science
Transaction Type: Disposal
Client: Mayfair Capital