Vodafone sells Newbury headquarters in sale and leaseback arrangement
Telecommunications company Vodafone have sold their longstanding headquarters in Newbury.
The company will rent half of the property back from purchasers Iqon Capital. Iqon purchased The Connection on behalf of Aljazira Capital for an undisclosed figured.
Vodafone will vacate three of the property’s seven buildings. Iqon Capital says they plan to use the three vacant buildings as a business campus.
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Commercial property experts Colliers advised Vodafone the transaction.
Colliers’ Head of Office Investment Chris Lewis said: “The sale and subsequent partial leaseback of The Connection by Vodafone demonstrates the flexibility that the right real estate approach can offer.
"Vodafone’s continued commitment to the Newbury campus is a testament to its fantastic facilities, strong location and quality office space. We look forward to seeing what the next chapter has in store for the campus as it continues its evolution.”
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