CarVal Investors and Chester Properties announce acquisition of three more office properties (UK)
Wednesday 11 July 2012
CarVal Investors, a leading global alternative investment manager, has just completed the acquisition of 1, 3 and 5 Roundwood Avenue in Stockley Park from the Universities Superannuation Scheme, who backed the Park’s development when it was created.
The properties occupy a prominent position close to the park’s main entrance and have a total of ca. 119,400 ft² (approx. 11,000 m²) NIA and 371 parking spaces. Each office building has large open plan floor plates arranged over ground and first floors. The properties are wholly leased, with relatively short remaining terms.
With approximately 2 million ft² of office space, Stockley Park is well established as one of the UK’s premier business parks. The West London park’s accessibility being within a short distance from Heathrow airport, the M4, M25 and M40 motorways, as well as its attractive landscaped setting, continue to appeal to leading international companies.
Robert Balick, Senior Managing Director of CarVal Investors commented: “This acquisition reinforces our presence at Stockley Park after the purchase of 2 Longwalk a few months ago. Space vacated in the future will be comprehensively refurbished to grade-A standard to meet future demand in what is becoming a tight market for well located, high quality space.”
Chester Properties was appointed by CarVal Investors as property and development manager for the project. Jones Lang LaSalle and Herbert Smith acted for CarVal Investors. USS was represented by DTZ and DLA Piper.