Hillview Real Estate has sold two office buildings in Stevenage and Bristol to private investors in separate transactions for €15.5m (£13.5m).
Meadway Court, located in Stevenage’s main commercial area of Gunnels Wood Road, provides 14 self-contained buildings, totalling 41,722ft², let to 21 different tenants. Great Western Court, located next to Bristol Parkway Station, comprises four separate buildings, totalling 37,287ft², let to high-quality occupiers primarily in the technology and energy sectors.
The sales come after Hillview completed a series of value-add asset management initiatives. Both properties were sustainably enhanced through refurbishments and let at significantly higher rents than at the time of purchase to bring occupancy levels to 100% at Great Western Court and 92% at Meadway Court.
Nadav Livni, founder and fund manager of Hillview Real Estate, said: “These two sales follow the successful completion of our business plan for the assets and provide us with equity for reinvestment into more active opportunities. I am proud of our team’s ability to deliver value across all market cycles.”