Axiom, the P&O Developments building in Borehamwood, Hertfordshire, has finally found a buyer after six years on the market.
Pinnacle Insurance paid a rumoured £4m to £5m for the 3,344 sq m (36,000 sq ft) office development, which has been empty since completion in 1990.
King Sturge & Co had been offering Axiom for rent at 163;193.75 per m2 (£18 per sq ft).
Pinnacle first looked at the space two year ago. The insurer is exercising a break option on two floors in Premier House, part of PosTel’s South Herts Office Campus, where it had been sub-letting 1,260 sq m (13,500 sq ft) from Computer Associates at £206,000pa.
EGi News 21/10/96
