UK & European Investments has sold the Volkswagen Financial Services UK headquarters at One Delaware Drive, Milton Keynes, for £50.15m.
EG understands that Runnymede Council has bought the 100,000 sq ft office building at a 4.8% initial yield.
The office was designed, built and prelet by UK & European for VWFS in 2014, on a 25-year lease with RPI-linked rent increases and a break clause in year 20.
The building has a BREEAM rating of “Excellent”, with solar panels and electric vehicle charging points.
John Stacey, asset management director for UK & European, said: “UK & European has a fantastic track record for creating best-in-class buildings and One Delaware Drive is another fine example of our development capability.”
UK & European was advised by JLL; Hanover Green advised the purchaser.
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