Former Frogmore directors Jeremy Mudie and Robert Thain (both pictured) have bought a 27,000 sq ft (2,508 sq m) office building at High Wycombe for retained investors.
Trading as Vantage Asset Management (VAM), the duo bought the edge of town office building, called Westfields, from Helical Bar for £5.5m, an initial yield of 7.12%. The property is multi-let and the main tenant is Staples UK.
The purchase – VAM’s sixth within the last year – is part of a plan to build a £100m mixed investment portfolio for investors.
VAM and Michael Rogers Whitehouse advised the purchaser and Tudor Toone represented the vendor.
The acquisition was funded by GMAC Commercial Mortgage, which also funded VAM’s acquisition in June 2004 of Lord Alexander House, Hemel Hempstead and Avonbank and Northcroft House, Newbury.
References: EGi News 22/07/04
