Balanced Commercial Property Trust Ltd has agreed to sell the Leonardo Building in Crawley, its largest office property, for €25.3m, as the company seeks to rebalance its portfolio away from office space. The transaction is expected to be completed in March 2024.
The 10,219m2 office building is in an out-of-town business park in the Manor Royal business district. It is near to Gatwick Airport and will be occupied entirely by airline Virgin Atlantic until 2032.
“Throughout 2024, we will continue to re-balance our portfolio towards targeted growth sectors with resilient occupier markets, primarily select submarkets within industrial & logistics and operational alternatives,” said fund manager Richard Kirby of CT Real Estate Partners LLP.
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