ACRE Capital have completed on the sale of The Great Hall in Tunbridge Wells on behalf of Federated Hermes to a private HNW investor.
The property is let to 3 tenants (The BBC, Sainsbury’s and BR Flooring Ltd), with a WAULT of 5.7 years to expiries and 3.9 years to break. The BBC film and broadcast their BBC South Today and BBC Radio Kent programming from the property.
The sale marked the conclusion of the FH’s business plan, having previously re-geared the lease to the BBC on 17,349 sq ft and secured a 19% rental uplift at review on the Sainsbury’s convenience store unit.
Location: Tunbridge Wells
Property Type: Office
Transaction Type: Disposal
Client: Federated Hermes