Barclays has exchanged contracts to sell the Basilica in Basildon to International Financial Data Services (IFDS).
IFDS, a subsidiary of two US corporations, State Street Bank and DST Systems, is expected to pay around £20m for the 120,000 sq ft (11,148 sq m) office building, which it will occupy.
Completion of the deal is anticipated before the end of the year.
The building is located on a 12-acre site on the edge of Basildon at Upper Mayne, and has the potential to be extended by 40,000 sq ft (3,716 sq m).
Jones Lang LaSalle and Knight Frank acted for Barclays, while IDFS was represented by Kelmsley Whiteley and Ferris.
EGi News 03/12/01
