RO COMPLETES SALE OF 53,464 SQ FT SWINDON INDUSTRIAL ESTATE

29/11/13

RO Developments has completed the sale of its RO24 industrial scheme on South Marston Park, Swindon, Wiltshire, with the final tranche of 16 units being sold to IO Investment LLP for £1,889,000.

IO Investment LLP, an asset manager, has purchased 40,445 sq ft of the scheme. RO24 Swindon totals 53,464 sq ft, and RO had previously sold the other five units to owner occupiers.

The sale of RO24 Swindon forms part of RO’s rolling disposal programme, which is commencing now that the company has maximised the value of its existing assets, and leaves the investor/developer hungry for new opportunities with £20m cash to invest across the South East.

RO Developments director Richard Bourne explains: “The sale at RO24 Swindon is part of our strategy to reinvest in new areas of growth and change the orientation of our portfolio into core income and value add opportunities. We are now looking to invest new funds in lot sizes of £2m - £5m. In addition we are keen to consider joint venture opportunities with other investors and developers
on larger projects.”

RO24 Swindon is situated on South Marston Park to the north east of Swindon town centre and within easy reach of both the M4 (Junction 15) and the M5 (Junction 11a) via the A419 dual carriageway.

RO Developments was unrepresented, while IO Investment LLP was advised by Loveday.

4,750 SQ FT OFFICE DEAL COMPLETED

4,750 SQ FT OFFICE DEAL COMPLETED AT CENTRAL BRACKNELL 
OFFICE BUILDING

RO Developments has completed another deal at Amber House, its town centre office building on Market Street, Bracknell, Berkshire. RO has granted a new lease to its existing tenant Mitie Compliance Limited. The company has taken a new lease on the building’s ground floor, and has taken further space on the previously vacant second floor – a total of 4,750 sq ft across both floors until March 2016.

Amber House is within a minute’s walk of Bracknell’s bus and railway stations and benefits from excellent onsite parking, air conditioning, male and female WCs and suspended ceilings. Other tenants include PCS, Infinitt UK Ltd and Bracknell Forest Voluntary Action. The building is now fully let but circa 1,500 sq ft will be available from March 2014.

Richard Bourne of RO said: “Mitie’s decision to renew its lease and take further space at Amber House is testament to the property’s credentials. The property is rare in Bracknell in that it provides open plan, air-conditioned office suites from 700 sq ft to 2,488 sq ft on flexible leases from £10 psf.”

Page Hardy (01344 311344) advised RO Developments. Mitie Compliance Limited were unrepresented.

HEMEL ONE OFFICE BUILDING NOW FULLY LET

96,000 SQ FT HEMEL ONE OFFICE BUILDING NOW FULLY LET FOLLOWING LATEST DEAL

 

 

 

 

RO Developments has just completed a 1,450 sq ft deal at its prime office building Hemel One, located on Boundary Way, Hemel Hempstead, Hertfordshire, meaning the building is now fully let.

City Transport Solutions, which provides on demand temporary replacement vehicles, drivers and haulage services, has leased part of the building’s first loor on a five year lease at a rent of £16 per sq ft or £23,200 per annum.

Hemel One comprises circa 96,000 sq ft over four floors and provides high-quality, air-conditioned office space with large open floor plates which are split into various size suites. The scheme has exceptional amenities including a
restaurant, UPS, generator, 24 hour security and very generous car parking, which has attracted multiple blue chip tenants to the building.

Located in Hemel Hempstead’s prime Maylands Business Area, within 1 mile of the M1 motorway, renowned occupiers include Ericsson, BP, Kodak, ASUS, Wipro, Lorica Consulting, Transcend, Vohkus, Five Go Live and Certus IT.

RO Developments director Richard Bourne commented: “We are delighted to welcome City Transport Solutions to Hemel One and we are very proud that the building is fully let. Occupiers are enjoying the location, amenities and quality of space. Many of our existing tenants are renewing and expanding within the building which demonstrates its attractiveness to occupiers.”

Brasier Freeth and Knight Frank advised RO Developments, City Transport Solutions were unrepresented.

MANOR PARK INSTRUCTION

MANOR PARK INSTRUCTION FOR LSH's READING AGENCY TEAM

The Reading Office Agency team of national commercial property consultancy, Lambert Smith Hampton (LSH), has won a new instruction to market RO Development’s Manor Park office scheme in Reading. RO Developments has appointed the LSH team alongside Knight Frank to jointly market the 63,728 sq ft of available built office space at One and Two Manor Park, as well as a 15,300 sq ft pre-let opportunity at Four Manor Park.

 

Manor Park is a modern business park on Basingstoke Road, close to junction 11 of the M4. The scheme offers office space from 2,000 to 63,728 sq ft, with One Manor Park being brought to the market following an extensive refurbishment. Part has been let and, as a result, it now offers 12,728 sq ft of grade A office accommodation with modern plant and equipment, energy efficiency and low running costs. Two Manor Park offers a 51,000 sq ft building available by way of a new lease or freehold, and offers a bespoke HQ office solution.

Nick Coote, head of LSH’s Reading office, commented: “Manor Park ticks a lot of boxes when it comes to occupiers’ preferences when relocating their offices. The scheme’s proximity to the motorway network as well as the town centre make it an attractive proposition for businesses looking to relocate to or within Reading. The nearby amenities allow Manor Park to compete with many of its counterparts. These amenities include one of Reading’s leading business hotels, the Hilton, which boasts eight meeting rooms and one large conference room, sauna and indoor pool, as well as an on-site restaurant and bar, with a supermarket and retail park also close by.” Nick added: “This instruction at Manor Park increases our footprint in Reading’s out of town office market following the team’s recent appointment by SEGRO at IQ Winnersh. We have also completed or agreed more than 60,000 sq ft of office transactions in Reading’s out of town market since the start of the year.”

Richard Bourne, development director at RO Developments commented: “We expect the remaining space at Manor Park to be taken very soon. Manor Park is an example of RO’s strategy in recent years, which has been to refurbish well located buildings and create Grade A space that will continue to see occupier demand regardless of the economic climate.”

More information about Manor Park can be found at www.manorpark-reading.co.uk