Global investment manager CarVal Investors has completed the acquisition of three office office properties at Stockley Park in west London from the Universities Superannuation Scheme (USS). Financial details were not disclosed but market sources put the price at around £24 mln (EUR 30 mln).
Global investment manager CarVal Investors has completed the acquisition of three office office properties at Stockley Park in west London from the Universities Superannuation Scheme (USS). Financial details were not disclosed but market sources put the price at around £24 mln (EUR 30 mln).
The properties - 1, 3 and 5 Roundwood Avenue - are located close to the park’s main entrance and comprise a net internal area of around 11,000 m2 and 371 parking spaces. The properties are wholly leased, with relatively short remaining terms.
Stockley Park is located within a short distance from Heathrow airport as well as the M4, M25 and M40 motorways.
Robert Balick, senior managing director of CarVal Investors, said the acquisition reinforced the company’s presence at Stockley Park following the purchase of 2 Longwalk a few months ago. ‘Space vacated in the future will be comprehensively refurbished to grade-A standard to meet future demand in what is becoming a tight market for well located, high quality space,’ he said.
Chester Properties will act as property and development manager for the project. Jones Lang LaSalle and Herbert Smith advised CarVal Investors. USS was represented by DTZ and DLA Piper.
