Newcore Capital has acquired the Pavilion in Thames Ditton in Surrey for more than £9m, exceeding the asking price of £8.6m.
The 2.07-acre site comprises a 62,825 sq ft office building and 230 car parking spaces. The office is leased to consultancy SHL Group on a lease expiring on 31 December 2026, with an annual rent of £920,000.
The site has development potential for alternative uses including residential, senior living and educational use, subject to planning, according to marketing documents seen by EG.
Other options for the site include converting and extending the existing building, developing the car park, and a full-scale demolition and redevelopment of the entire site.
Savills represented the seller, an overseas entity.
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