A joint venture between Middle Eastern capital, advised by WW Advisors, and London AIM-listed Alpha Tiger Property Trust has acquired three office buildings that are part of Cambourne Business Park, Cambridge. The transaction price amounts to £23 mln (EUR 26 mln) including acquisition costs.
A joint venture between Middle Eastern capital, advised by WW Advisors, and London AIM-listed Alpha Tiger Property Trust has acquired three office buildings that are part of Cambourne Business Park, Cambridge. The transaction price amounts to £23 mln (EUR 26 mln) including acquisition costs.
The vendor was from Legal & General Investments.
Phase 1000 of Cambourne Business Park comprises 103,000 sq ft (9,600 m2) of Grade A office accommodation. Alpha Real Capital will now asset manage the portfolio, which houses tenants such as Regus, Convergys EMEA and Citrix Systems UK.
The Cambourne Business Park was constructed in 1999 and is located close to Cambridge. The development has been master planned to provide in excess of 750,000 sq ft of business space and is currently home to over 1,500 employees. Chesterton Humbert acted for the joint venture partners on the transaction with DTZ acting for the vendor.
WW Advisors is a Kuwaiti-backed, UK-based company providing specialised real estate investment advisory and financing advisory services throughout Europe.
Alpha Tiger Property Trust Limited is an Alpha Real Capital LLP managed fund, which targets investment and development opportunities in real estate, including real estate operating companies and other related real estate businesses.
