by
Glade Capital has bought the UK headquarters of Thames Water for £35m.
The five-storey, 89,059 sq ft Clearwater Court in Reading, Berkshire, which sits just 300m from Reading train station, was put up for sale through JLL in November last year with an asking price of £41m – a 7.35% net initial yield.
Thames Water’s lease on the building runs until July 2032. It pays a passing rent of £3.2m per annum, reflecting a rent of £36.05 per sq ft.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
US tariffs and UK insurance hikes are worrying dealmakers, but some see a chance for Europe to prove its worth
Housebuilder reiterates full-year completion and profit guidance
Company says it has had good start to the year in Q1 trading update
A local private investor has snapped up the multi-let office for £6.1m
