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ACRE lights up the business park market

By November 2020 Transactions

ACRE Capital have advised Nuveen on the sale of The Birchwood Building on The Office Park, Leatherhead, to Qualis Commercial. The property transacted for £13,670,000, reflecting a 6.28% NIY and a capital value of £391 per sq ft.

The property comprises of a newly refurbished office building of 34,939 sq ft, which is multi-let to Hyundai and Zoetis and benefitted at the point of sale from a WAULT of 11.9 years to expiry and 7.0 years to break.

Location: Leatherhead
Property Type: Office
Transaction Type: Disposal
Client: Nuveen