Avison Young has advised Topland Group on the acquisition of the BT Depot, Telephone Engineering Centre, Downmill Road, Bracknell from a private seller for £7million.
The industrial unit is let to BT on an 86-year lease expiring in September 2059. At the last 33-year rent review in 2014, the annual rent was set at £300,000.
Mark Holliday, Avison Young’s Principal, Capital Markets Group, comments: “This is a fantastic site of 4.04 acre (1.63 hectare), with very little built upon. Strategically located in the middle of an industrial estate, the off-market acquisition is underpinned by the site value for its future redevelopment potential.”
Colliers advised the private seller.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 84 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.
