Mantle Estates, the Hertfordshire-based commercial property investor and developer, has acquired Lambourn Court at Abingdon Business Park, Oxfordshire to create refurbished office space alongside its sixth business centre for £3 million.
Lambourn Court is one of Abingdon’s largest office buildings in a prominent position at the entrance to Abingdon Business Park. Previously a headquarters’ building, it has three stories built around a central core with wings either side providing a total 50,000 sq ft of space, along with 197 car parking spaces.
The building requires significant refurbishment with the large floor plates being reconfigured to suit modern day working styles. Mantle has instructed Selencky Parsons Architects to design revitalised interior business spaces, including catering facilities, co-working and break out spaces, showers, new outside landscaping, and electric car charging points. Mantle will complete the fit-out using its in-house team.
Mantle already operates five business centres in the east of England in Cambridge, Chelmsford, Duxford, Stansted and Stevenage. The sixth business centre is its first in Oxfordshire and part of its strategy to expand its offering throughout the south east, providing vibrant co-working office space and meeting rooms. The remainder of the building will be for businesses to lease fresh new office space. The building will also undergo a rebrand with a new name to be unveiled when it opens in summer 2019.
Guy Baker, chief executive officer, Mantle said: “Following our successful growth in the east of England’s serviced office and business centre market, we saw the opportunity and demand to provide meeting rooms, serviced offices and office space to the Oxfordshire area. Our plans for the building are transformational and once finished, will appeal to those people and companies looking for competitive, flexible, Grade A and well-located office space.”
Mantle has appointed Carter Jonas as its leasing agency.
Jon Silversides, partner, commercial, Carter Jonas said: “Mantle has committed to invest in a comprehensive remodelling and refurbishment project to provide a combination of their established business centres brand together with more traditional office space. Our team is excited to be instructed by Mantle on this high-profile building which we believe will prove extremely popular due to a combination of the lack of office space available on the A34 corridor, the quality of refurbishment proposed and the flexibility on offer.”
The refurbishment of the whole building is underway to create vibrant business spaces and meeting rooms. The building is due to open in summer 2019.
