RO Real Estate, the UK commercial property investment and development company, has completed the sale of a 19,737 sq ft office building in Egham, Surrey.
RO has sold Crabtree Office Village, its four unit office property to House of Hiranandani for £4.3 million (6.9% NIY). Over recent years, RO has fully let the scheme and increased the ERV through asset management and refurbishment.
This disposal is part of RO’s ongoing strategy to reposition its portfolio by carrying out a rolling disposal programme once the value of assets have been maximised and recycling the proceeds for reinvestment in core income and value-add opportunities in the South East.
RO Real Estate still has a significant amount of cash to reinvest in lot sizes between £2-5 million.
Richard Bourne, head of RO Real Estate, said: “'We are constantly in the process of optimising the value of our portfolio. This sale is a good illustration of our ability to extract substantial value out of an asset and maximise our returns at exit.”
CBRE Ltd advised RO and Gerald Eve LLP advised House of Hiranandani on this transaction.
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For further information:
Edward Rowlandson / Nick Moore, RO Real Estate
01707 601400 / 0207 025 1780
info@rogroup.co.ukKirsty Allan, Tavistock Communications
020 7920 3150
kirsty.allan@tavistock.co.uk
