Lumina Real Estate Capital and Wrenbridge have sold Reading Bridge House to M&G Real Estate for £35m.
The 113,778 sq ft ten-storey office block on the north of Reading town centre was bought by Lumina and Wrenbridge for £10.9m in spring 2013.
The sale follows a full refurbishment.
Tenants include Royal London, Throgmorton and SCISYS.
Sassan Ahsani of Lumina Real Estate Capital said: “We were delighted to fund the acquisition and refurbishment of Reading Bridge House with Wrenbridge as part of our Special Situations Fund I. The sale price is not only reflective of the strength of the Reading market, but also the team’s ability to recognise investments where we can add value and produce superior returns.”
Jeff Wilson, director at Wrenbridge, added: “We are delighted to have completed our first joint venture with Lumina. We are already working on our second project together and look forward to many more.”
Strutt & Parker advised M&G Real Estate; Lumina and Wrenbridge were not advised.
jack.sidders@estatesgazette.com
