Equity and property manager Maven Capital Partners has bought a 20,000 sq ft site in Vanwall Business Park in Maidenhead.
It will undertake a £5.5m refurbishment of the building to deliver Grade A office stock for the Thames Valley.
This is Maven’s second office acquisition in the Thames Valley in the past 18 months, following its £4.8m purchase and redevelopment of Planar House – which is now known as “Eclipse” – in Marlow last year.
Andrew Whiteley, investment director at Maven, said: “We are delighted to have sourced another high- quality opportunity for our investors, as our property investment business continues to build momentum across the UK. The Thames Valley market is in rude health, as the UK economy continues its recovery, with a notable shortage of modern office space in the area following a period of very limited development of new office space.
“The increased competition for high quality premises is driving rising rental levels and presenting attractive opportunities for investors with the development and investment expertise. Given the increasing focus by businesses on finding a prime location and achieving energy efficiency, this project offers the prospect of a strong investor return.”
