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Three commercial buildings have been acquired and bought by Galliard Homes from a fund advised by Brockton Capital. The acquisition amounted to a substantial sum of £27 million.
Chiltern Court, site and investment number one, is 34,000 sq ft located in Chesham, Buckinghamshire. Site number two is Thorney Leys Park, which includes over 54,000 sq ft of office space and is located in Witney, Oxfordshire. The final site acquired by Galliard is Bourne Court, which offers 68,000 sq ft of prime office space in Woodford Green, North London. Although these sites currently have permission for commercial use, there could be plans for potential re-development schemes for residential units.
Eugene O’Sullivan, leading Chartered Surveyor and Managing Director at Morgan Pryce, explains; “Although London remains the epicentre of business, many firms are looking to consider fringe locations such as Thorney Leys Park due to better rent and business rates which have taken an upward spiral in recent months.”
While Stephen Conway, Chief Executive of Galliard Homes, says; “We are delighted to have completed this deal with Brockton Capital, which has seen us acquire three sites within London’s commuter belt. These sites will allow us to continue our long-term commitment to providing young people with high quality, affordable housing that will help them to take those vital first steps onto the property ladder.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.