TIAA Henderson Real Estate has bought office building 2 Roundwood Avenue near Heathrow, in a £46m off-mark deal.
TH Real Estate, on behalf of the Henderson UK Property OEIC, bought the Stockley Park 97,720 sq ft asset from Europa Capital and joint venture partner Cordatus Real Estate.
The deal follows the completion in November 2014 of a refurbishment of the property and its prelet to Gilead Sciences Europe. The deal was one of the largest Thames Valley lettings of 2014.
Rob Sim, partner and head of Northern Europe at Europa, said: “The completed building has proved attractive to investors with a number of unsolicited approaches and we are very pleased to have completed the sale to Henderson.”
Marcus Langlands Pearce, director of UK Property OEIC at TH Real Estate and co-manager of the Henderson UK Property OEIC, added: “Stockley Park is a location where we would hope to capture strong rental growth in the coming years.”
BNP Paribas Real Estate advised the vendor while Maples Teesdale acted as legal representatives. Lewis Ellis acted for buyer with lawyers Wragge Lawrence Graham.
On the letting, Lambert Smith Hampton and BNP Paribas Real Estate advised the landlord; Cushman & Wakefield represented Gilead.
