Leading developer Kingsbridge Estates has completed the £10.95million acquisition of a prime office building in the heart of Guildford town centre from M&G Real Estate.
The site at 1-7 Stoke Road is in a coveted central location, a short walking distance from the High Street and from Guildford and London Road railway stations, with rail links of around 30 minutes to London.
Kingsbridge Estates has acquired the freehold of the property in joint venture with a private family office. Kingsbridge plans to maintain the office use with future plans to undertake an extensive refurbishment to Grade A standard. The proposed works will make the most of the character of the partly locally listed building, creating high impact contemporary space targeting the highest sustainability credentials.
Greg Lukasiewicz, Investment Director at Kingsbridge Estates, said: “We are very pleased to have completed this acquisition in line with our commitment to providing high quality, sustainable office spaces that are attractive to occupiers looking for exceptional accommodation.
“There is currently very little office stock available in Guildford, which means we have a unique opportunity here to refurbish a site and deliver a best-in-class product to meet demand for Grade A town centre space.
“This is an exciting time for Guildford, already a thriving employment centre with an affluent and skilled population and a huge amount of investment in residential, retail and leisure schemes ongoing in the town centre. We are very excited about playing our part in the ongoing Guildford success story.”
Antony Leech of TT&G Partners and Derek Corden of Kingstons were agents for Kingsbridge Estates, while Sam Gibson of JLL acted for the vendor.
Michelmores LLP provided Kingsbridge legal advice on purchase and JV structuring, while Hogan Lovells LLP represented the seller, M&G Real Estate.
