Spelthorne Borough Council has acquired 3 Roundwood Avenue, a 43,110 ft² refurbished prime headquarters office building in Stockley Park, Uxbridge, from a fund managed by CarVal Investors and its operating partner Chester Properties. The purchase price was undisclosed.
The freehold property lies in a prominent position close to the amenity centre at the entrance to Stockley Park, one of Europe’s leading business parks. The building has been comprehensively refurbished and is let in its entirety to air freight and logistics group Cargo Logic, for whom the proximity to Heathrow is strategically important, and to Verifone, a leading electronic point-of-sale payment systems provider, which is relocating its UK head office from Cowley Business Park, Uxbridge.
Chris Lewis, International Partner and Head of Office Investment, at Cushman & Wakefield, said: “We were delighted to assist Spelthorne Borough Council in the acquisition of this prime south-east office building. The opportunity was consistent with their investment strategy and also benefitted from being within its local economic area.”
The sale by CarVal Investors and Chester Properties marks the end of their successful involvement with Stockley Park.
CarVal Investors is a leading global alternative investment fund manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, CarVal has opportunistically invested c. €85.2m ($100bn) in 5,300 transactions across 77 countries.
Chester Properties is a long established, experienced and successful company operating across all commercial property sectors in the UK.
CarVal Investors and Chester Properties were advised by ACRE Capital and JLL and Spelthorne Borough Council was advised by Cushman & Wakefield.
