Location: Farnborough
Size: 565,000 sq ft
Type: Office
Exit: Sold to Frasers Property for £176m
Partner: Farnborough Business Park Limited c/o Frasers Property.
Description
120 acre mixed-use business park comprising 565,000 sq ft of offices with auxiliary retail and leisure uses.
Objectives
- Undertake a re-brand of the park, refurbish common parts of all multi-let buildings.
- Reduced vacancy from 22% to fully let within 24 months of ownership which helped drive rental growth by 25%.
- Speculative development of 110,000 sq ft of offices and 67,000 sq ft Audi car showroom.