Strategic Real Estate Advisors (Stratreal) has advised an overseas private client on the disposal of the Turner building in the English town of Slough to an institutional investor for £45 mln (EUR 67 mln). The property is a modern headquarter office development built in 2000 providing 86,780 sq.ft (8,000 m2) of high quality accommodation over ground and three upper floors. The entire property is let to Reckitt Benckiser until July 2020.
Strategic Real Estate Advisors (Stratreal) has advised an overseas private client on the disposal of the Turner building in the English town of Slough to an institutional investor for £45 mln (EUR 67 mln). The property is a modern headquarter office development built in 2000 providing 86,780 sq.ft (8,000 m2) of high quality accommodation over ground and three upper floors. The entire property is let to Reckitt Benckiser until July 2020.
Jeremy Gates, managing director at Stratreal said: 'This was the last UK asset we sold as part of a billion pound portfolio realignment that we have carried out for clients over the last few years. We felt that the prime office investment cycle was peaking and we should take advantage of this. We have reinvested some capital in the UK development sector where we see better risk / return opportunities.' Over the last 2.5 years StratReal has concluded £800 mln of sales transactions in the UK.
Stratreal is working on the syndication of the equity for the Heron tower, an iconic office building in the heart of the City of London.
