Europa Capital and Cordatus Real Estate have acquired Two Roundwood Avenue at Stockley Park near Heathrow Airport for £18m.
The 93,600 sq ft office building was acquired from Phoenix Life Assurance. It is currently let to Hasbro and Gilead Sciences. Cordatus Real Estate is to undertake the asset management of the property, which will include works to improve the quality of the accommodation.
James Fortescue at Europa Capital said: “The investment is an opportunity for Europa Capital to acquire an asset in a well-connected, popular and established UK business park. Furthermore, there is likely to be an opportunity to refurbish the building, which should result in the creation of an institutional grade office product.”
Lambert Smith Hampton acted for Europa Capital and Cordatus Real Estate; BNP Paribas Real Estate advised Phoenix Life Assurance.
Annabel.Dixon@estatesgazette.com
