Clearbell Capital has sold the Xerox Campus on Bessemer Road, Welwyn Garden City to Chase New Homes for about £13.5m.
The 10-acre campus comprises three office buildings – the Business Centre, Enterprise Centre and Development Park – and one warehouse, Vision House. The buildings total 180,620 sq ft.
Clearbell bought the Xerox Campus in November 2013 as part of a six-asset portfolio of Greenhill managed office buildings, mainly in the south of England.
In December 2014, Xerox renewed its leases on Development Park and Vision House, but vacated Enterprise Centre and Business Centre.
In January this year, permitted development rights were secured to develop 133 residential apartments in three of the four buildings.
Chase New Homes plans to implement the permitted development consent on the site.
Rob West, partner at Clearbell, said: “The site provides the perfect opportunity for a residential conversion due to its close proximity to Welwyn railway station, John Lewis and the proposed regeneration of the old Shredded Wheat factory site. We are delighted Chase New Homes intends to implement this plan.”
Savills acted for Clearbell; LSH acted for Chase New Homes.
