AEW Europe, advised by Gerald Eve, has completed the £325 million acquisition of a Slough office portfolio from SEGRO.
The transaction, which was undertaken on behalf of clients of AEW Europe, sees the purchase of 971,551 sq ft of office properties leased to blue-chip occupiers and one building currently being developed on a speculative basis.
The 42 acre linear business park benefits from a one mile frontage to Bath Road, which links Slough immediately to the east and Maidenhead to the west. Occupiers of properties within the portfolio include: Telefónica, Lonza, SEGRO and Fiat.
Andrew Mears, partner at Gerald Eve, said: “This is an excellent portfolio, offering significant asset management opportunities to drive performance. As a town, Slough is undergoing urban regeneration in preparation for the opening of Crossrail in 2019, which is attracting a number of new corporate office occupiers and creating strong rental growth.
“There was considerable competition from a number of UK and overseas investors, which makes it particularly satisfying to be able to assist AEW Europe in completing this acquisition. Gerald Eve’s investment team had a very strong 2015, with this purchase being the latest in a string of high-profile deals that are cementing the firm’s growing reputation in the marketplace.”