John Laing Property Business Space (JLPBS) has bought the former Metal Box headquarters building in Reading for £24.9m. The 10,219 sq m (110,000 sq ft) building was sold by Rosskeen to the joint venture between John Laing Property and Bank of Scotland.
It is leased to MB Caraden on a lease expiring in 2003, and has been sublet to Energis until 2013. The deal also included the purchase of British Lands 0.68 ha (1.68 acres) NCP car park for £1.75m.
JLPBS director, Chris Bond, said: “The acquisition doubles the size of our portfolio within six months of creating the company. We are still keen to acquire further properties in the Thames Valley and are in detailed negotiations on several.” He said that the group is keen to acquire properties close to Reading station.
Rogers Chapman and Hamptons represented the purchaser.
EGi News 08/09/00
