THE PARK ESTATE OFFICE INVESTMENT SOLD

Investment News

FHP Property Consultants are delighted to announce the sale of the office properties at 1-3 Hope Drive and 16 Castle Boulevard which lies at the entrance to The Park Estate, designed by the renowned architect TC Hine.  The property is a fully let office building of some 15,000 sq ft which houses 14 different companies in the tech, financial services and recruitment sectors.  The property was purchased for £1.725 million by Shoby Properties and the new owners will continue to run the building as a business centre.

Mark Tomlinson at FHP Property Consultants who acted on behalf the vendor commented:

“Given the location of the properties and the quality of the internal spaces we were not surprised at the strong interest we received for the building.  The centre presents well and boasts some excellent tenants.  The attractions of the property are the low void rates and future rental growth for the landlord, while the tenants benefit from flexible lease terms which allows their businesses to grow unhindered”.

Will Torr at HEB who acted on behalf of the purchaser commented:

“I’m pleased to have advised Shoby Properties on their recent acquisition of this attractive property situated at the entrance to The Park Estate. The fully let asset comprises a well-presented business centre with good core tenants within a range of sectors. There is a strong prospect of future rental growth and the building will complement Shoby Properties existing portfolio.”