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XLB/Harbert sell building back to Arlington after 5 years

Harbert Management Corporation and XLB are pleased to announce the sale of Spires House, Oxford for £17.15m (6.06% NIY) – well exceeding the quoting price of £14.85m.

The building measures 49,500 sq. ft. was purchased from Arlington in 2015 in the Emperor Portfolio. On acquisition, the majority of the building was let to BT on a short term basis with Jazz Pharma occupying the remainder. On expiry of the BT lease in 2017 the building underwent a comprehensive refurbishment, following which Jazz Pharma doubled their footprint and regeared their lease. A further 12,000 sq. ft with let to Veeva Systems UK at a rent 15% higher than passing. After a competitive bidding situation, the sale to Arlington (who own the wider Oxford Business Park) completed in Q4 2020.

06th Jan 2021 Read the article

AIMCo and XLB acquire U.K. Technology Park

Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, and XLB Property (XLB) have completed the acquisition of Langstone Technology Park from Angelo Gordon and Trinity IM. The former IBM campus in Havant, Hampshire includes 480,000 square feet of offices, labs and data centre on approximately 40 acres. The investment in Langstone Technology Park presents a great opportunity to deliver a new vision for this landmark site, centred around R&D, clean tech, logistics and employment uses. We look forward to working with AIMCo again on this exciting new project.

The vendor was advised by ACRE Capital Real Estate and BCM. Savills advised the purchaser.

06th Jan 2021 Read the article

Pictet/ XLB acquire £119m Manchester office portfolio

The deal comprises three listed freehold Victorian former warehouse buildings offering value-add opportunities, in core locations in Manchester, secured at a net initial yield of 6.2 per cent. The assets total 362k sq. ft and are partially refurbished Grade A period assets.

17th Dec 2020 Read the article

Coventry Jewel Sold

Sapphire Court has been purchased by LCN Capital Partners from Harbert / XLB for north of £22,000,000.

05th Jun 2020 Read the article

Two masterplans move forward in Staines

A major redevelopment at Causeway Business Park in Staines has been approved by Runnymede Borough Council.

27th May 2020 Read the article