The former O2 headquarters in the Thames Valley has come to the market, boosting supply for the rising number of tenants on the hunt for new premises.
The Ignis UK Property Fund has instructed Lambert Smith Hampton to sell the 62,000 sq ft Slough block and market it as a redevelopment or refurbishment opportunity.
SEGRO has a lease at the building until September 2014, but it is now vacant because the firm agreed to take on the rent to facilitate former occupier O2’s prelet at SEGRO’s 110,000 sq ft building at 264 Bath Road in Slough.
The sale will be welcomed by tenants in the Thames Valley concerned about dwindling supply over the next few. As revealed by Estates Gazette, more than 200,000 sq ft of requirements in the area have been launched in the year-to-date, as a result of upcoming expiries.
Offers in excess of £10m are being sought for the property.
joanna.bourke@estatesgazette.com
