German-listed real estate firm Aroundtown has appointed Tuatara and Cushman & Wakefield to find a new owner for Elstree Tower in Borehamwood, Hertfordshire.
Offers in excess of £15m are sought.
The 81,758 sq ft office block, which has a 346-space multi-storey car park to the rear, has been vacant since the former tenant, the UK division of global cloud and data centre services provider SunGard, collapsed early in 2022.
EEH Ventures is acting as the asset manager for Elstree Tower.
The building occupies a two-acre site opposite the Sky Studios campus, a 30-acre film and television studio backed by Legal & General, which is expected to enable £3bn of production investment over the next five years of operation.
Dan Cohen, founder at Tuatara Real Estate, said: “It is a rare opportunity for a potential buyer to unlock multiple repositioning angles. It could be an extension of the studios, post-production space, self-storage, serviced apartments or co-living concept.
“Demand for all of these uses is high with more than 3,000 new employees coming to the town following the success of Sky Studios.”
The sale of Elstree Tower follows AXA IM Alts’ acquisition of the 16-acre BBC Elstree Centre, which comprises seven stages and workshop, office and post-production facilities. The deal is due to complete in early 2025.
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