Marlow: Office campus goes on market for £77m as sales board grows in region
Kildare Partners has brought to market Marlow International, a 230,767 sq ft office campus in the Thames Valley, for £77.385 million, joining close to £0.5 billion worth of South East offices being formerly marketed.
Kildare has appointed Colliers International to market Marlow International, which is multi-let to six tenants including Allergan and Dun & Bradstreet at an annual passing rent of £23.90 per sq ft.
It would represent a speedy crystallisation of profit for Kildare, which bought the campus in June 2017 for £68.5m.
The launch of the sale comes at a time when a significant number of large office sales are being formally put on the market - ahead of the March Brexit deadline which could create a potential slowdown in Q1 2019.
M&G has now formally brought to market The Heights, a 25-acre office campus in Surrey, for £145m. The Heights is located on The Brooklands Estate, home to the historic Brooklands motor racing track and comprises five offices buildings, providing a total of 349,903 sq ft.
M&G is being advised by Knight Frank on the sale.
The Heights has a reversionary passing rent of £28.65 per sq ft and is let to 14 tenants, with over 84% coming from the top eight, including Alliance Boots, RCL Cruises, PGS Exploration, Samsung, Daikin and Dentsply.
Separately Aviva Investors is marketing the Symphony portfolio of UK offices via Cushman & Wakefield for £149m.
The portfolio comprises offices in Glasgow and Newcastle as well as two at Stockley Park near Heathrow, Guildford, Leatherhead and Oxford.
Source: CoStar
