Buckinghamshire office sells for £1.49m
An office near in the Buckinghamshire town of Olney, near Milton Keynes, has sold for £1.49 million.
A Hampshire-based private investment company has purchased the purpose-built two-storey building, having been advised by property consultancy Vail Williams.
Property consultancy Lambert Smith Hampton marketed the 2015-built, 6,769 square foot single-let premises, representing the building’s owner and seeking officers in excess of £1.34 million.
Legal firm Shakespeare Martineau in Leicester acted for the vendor, a private company, and Bells Solicitors in Romsey, near Southampton, represented the purchaser.
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The building is let to UK-based energy company G2 energy, which signed a new fifteen year lease on completion of the deal at £102,885 per annum, equivalent to £15.20 per square foot.
Ben Duly, a senior surveyor with Vail Williams, said: “On behalf of our client, we were tasked with sourcing investment opportunities with long-term capital growth along with longevity of rental income from a respected occupier in a high-quality building which is energy efficient and therefore does not require retrofitting to meet new environmental compliances.
“Furthermore, the office is served by the M1 motorway, with the A509 through Olney providing direct links to Milton Keynes 11 miles to the south, whilst the A428 connects to Northampton and Bedford, both 11 miles away.”
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