Bank of London and The Middle East plc has bought the National Crime Agency headquarters for £40.6m.
The 136,444 sq fft 100 Longbarn Boulevard in Warrington, Cheshire, is fully let to the UK government on a long lease with a WAULT of 13.6 years.
Ashish Mehta, director of real estate investments at BLME, said: “The acquisition of 100 Longbarn Boulevard is a further vote of confidence in northern commercial property.
“This is a compelling investment and aligned with our investment strategy of acquiring income generating assets with index-linked rent reviews.
“The asset is backed by a strong tenant and we are encouraged by their commitment to the building and the location. The asset was acquired at an attractive price and we expect to generate a steady return for our investors.”
Andy Thomson, head of real estate at BLME, added the investor was now “now actively seeking” its next investment and was “comfortable” making all equity acquisitions.
Darin Partners, which advised BLME on the acquisition, has been appointed as asset manager.
Knight Frank also advised on the deal.
