15 April 2015 (London/Hereford) – Boultbee Brooks Real Estate (“BBRE”), the UK-based real estate investor and developer, today announces the sale of 20 Kingston Road, Staines to M&G for a price in excess of £20 million.
20 Kingston Road, which was acquired by BBRE two years ago, has been comprehensively remodelled and reconfigured to create an efficient, high quality grade A, landmark building that provides office space to meet the performance and efficiency needs of modern day businesses. The commercial property is comprised of five floors totalling 43,835 sq.ft. and accommodates 144 car parking spaces.
Robert Cannock of Aurum Real Estate, BBRE’s retained investment adviser, said: “The sale of 20 Kingston Road to M&G brings a successful conclusion to BBRE’s comprehensive refurbishment and re-positioning of this core M25 office asset. The project has taken place over the last two years following BBRE’s specific targeting of active asset management opportunities within key markets. The project has delivered exceptional returns and the proceeds will be reinvested in new opportunities across the UK’s main cities as they become available”.
Aurum Real Estate advised BBRE and Savills advised M&G. CBRE and New Ballerino are being retained by the new owner to let the remaining vacant floors.
For more information contact:
Brunswick Group Boultbee@brunswickgroup.com
+44 (0)20 7404 5959
Boultbee Brooks Real Estate: Christine Elsasser Christine@bbre.co.uk
+44 (0)20 7349 8454