Microsoft’s 246,000 sq ft Reading office campus is to be sold.
FI Real Estate Management has appointed BNP Paribas Real Estate to bring the asset – which comprises three office-led buildings- to the market.
Offers in excess of £100m are expected for the Thames Valley development.
The properties form the largest asset in the 1.2m s sq ft Mapeley BETA portfolio, and are held on 12-year leases. Solutus Advisors was appointed special servicer on the loan in October 2012 following receivership. FI Real Estate Management was appointed asset and property manager on the portfolio.
Hugh White, head of national investment at BNP Paribas Real Estate, said: “Global interest in UK real estate has continued to increase during the course of this year and as the weight of both UK and overseas money pushes central London yields down, attention has now focused on well-let, well-specified assets in the wider South East.”
He added: “The combination of this tenant, which is the third-biggest global brand, the attractive unexpired lease term and the established nature of the location, means that the property will provide a compelling proposition to investors seeking income-producing real estate assets.”
