Strutt & Parker has been appointed by Goodman to sell 5 Arlington Square in Bracknell, Berkshire, for £31.3m, representing a 7.25% yield.
The 97,172 sq ft office is part of the 22-acre Arlington Square business park, which is home to a number of tech companies including Avnet Technologies and Broadcom Europe.
Number 5 Arlington Square was completed in 2008 and is multilet to tenants including engineering firm Lloyds Register and conferencing solutions company Intercall Limited.
Rents at the park average £20 per sq ft.
Arlington Square is owned by the Arlington Business Parks Partnership fund, an investment partnership between Legal & General Property and Goodman Group.
The fund was launched in 2003 and is one of the largest investment vehicles for UK business parks.
In February, Patron Capital and APAM’s joint venture fund paid £75m for Arlington Business Park.
In September last year the fund brought a £130m portfolio of UK business parks to market.
The sale of 5 Arlington Square is part of the fund’s ongoing exit from the business park market.
