A premium office building in Swindon, Wiltshire, has exchanged hands in one of the biggest deals in the South West this year, national property consultancy Lambert Smith Hampton (LSH) has announced.
Washington House, which has 26,869 sq ft of office space, has sold for £6,250,000 to an overseas investor. The freehold property is located at Lydiard Fields, Swindon’s premier out of town business park, which is strategically situated just off junction 16 of the M4.
The building is occupied by Openwork Holdings, a wholly owned subsidiary of Zurich Assurance, on a 15-year lease.
Commenting on the deal, James Cook, director of Mount Sophia, the vendor, said: “We are delighted to have concluded a sale of this asset, with the support of both Lambert Smith Hampton and the legal team at Wedlake Bell.
“The transaction closed within six days of agreeing heads of terms, at a price that reflected excellent value for Mount Sophia. We continue to look for similar investments where we can deliver exceptional returns to our investors.”
Darren Sheward, LSH regional head South West, said: “This transaction concluded in the midst of Brexit uncertainty. This illustrates that the UK remains an attractive home for investors, and that values are holding well within the regional markets.
“Washington House is a high quality office building located on Swindon’s premier out of town business park, just off junction 16 of the M4. It is let to the strong covenant of Openwork Holdings.”
Washington House has been accredited with a BREEAM ‘very good’ rating. The building’s specification includes air conditioning, fully accessed raised floors, a 13 person lift and full height feature glazing.
