Reading: Abbey Gardens to be sold for £40m
13 June 2017
Share
Palm Capital is set to buy the Abbey Gardens office complex in Reading from Hermes Investment Management for circa £40 million, according to reports.
Abbey Gardens is a circa 150,000 sq ft complex comprising two buildings which Hermes bought in 2011 for £19m from PFA Invest International.
Alongside Bell Hammer Hermes completed the speculative redevelopment of the 77,250 sq ft Abbey Gardens South in 2013 and has subsequently secured a number of lettings taking rental levels to around £31.50 per sq ft.
Montagu Evans advised Hermes.
Source: CoStar
