A private overseas client of Deal Varney and Nightingale Partners has agreed the freehold investment sale of Oxford Square, Oxford Street, Newbury for £4.375 million.
The property consists of three office buildings totalling 28,837 sq ft with a combined income of £488,747 pa let to Vodafone, Azzuri Communications and Exony Limited.
The sale underscores investor demand both regionally and in Newbury where supply of offices has hit a record low, prompting perceived rental and capital growth. The sale reflects a 10% net initial yield taking into account potential rental growth.
Deal Varney and Nightingale Partners acted for a private overseas client, the purchaser, BDZ, was not represented.
