Internos Global Investors has completed the acquisition of the National Air Traffic Services Headquarters building on the south coast of the UK, acting on behalf of an institutional separate account client.
The 261,000 ft² office park asset is fully let on a long-term lease to National Air Traffic Services (“NATS”), the main provider of air traffic control services in the United Kingdom. Each year, NATS handles 2.4 million flights and 250 million passengers in UK airspace, as well as operating in over 30 other countries around the world.
Robert Leadbetter, manager of the separate account that acquired the asset, commented: “This property is eminently suited to our client’s investment requirements, providing long-term income at an attractive spread above bonds of comparable credit quality. This is also a landmark transaction for Internos since it is our largest acquisition in the UK to date. The transaction process itself was both efficient and thorough, moving from acceptance of our offer to exchange of contracts in 20 working days.”
Internos was advised in the transaction by Goldenberg Real Estate.
