Slough: Kames Capital acquires central office building

Kames Capital, advised by V7 Asset Management, has acquired a central Slough office building from Patrizia Immobilien and Oaktree Capital Management for £8.25 million.

The 29,172 sq ft Keypoint building was purchased by the Kames Property Income Fund and is fully let to AWG Business Centres at an annual rent of £943,872 until September 2018. In addition to identifying the opportunity for Kames Capital, V7 is to be retained as asset and development manager on the scheme.

Located at 17/23 High Street in Slough town centre, the five-storey Keypoint was built in 2002 and includes 70 parking spaces. The area is an established business location, with nearby occupiers including Blackberry, O2, Intel and Regus.

A series of infrastructure projects is set to benefit Slough in the coming years, including: the Elizabeth Line (due to open in 2019); the £450m Heart of Slough project regenerating the area around the station; and SMaRT, a new rapid transit scheme linking the town centre and business locations.

Matt Leach, a partner at V7 Asset Management, said: “Offering high-quality office space, and well-located to benefit from the infrastructure improvements currently being undertaken, Keypoint presents an excellent asset management opportunity for Kames Capital.

“As an established business location, the area is seeing strong occupier demand, and this is reflected in the development work going on in the town. As such, there will be a variety of occupiers seeking high-quality, well-located office space that is available at a slight discount to the newer schemes, and Keypoint is ideally positioned to capitalise on this opportunity.”

Kames Capital was advised by V7 Asset Management and GVA.