Grainger Trust has confirmed the sale of a 75,000 sq ft office block in Slough to GE Commercial Finance Real Estate for £22.5m cash.
The sale of Landmark Place reflects a surplus of around £2m over the last balance sheet valuation.
Developed in 2003, Slough council occupies 18,000 sq ft on the ground floor, with the remaining 57,000 sq ft available to let.
The building also includes a leisure club let to LA Fitness
It generates rental income of £138,000 pa which rises to £563,000 pa following the expiry of rent-free periods.
Rupert Dickinson, chief executive of Grainger, said: “This transaction completes our commitment to sell our principal commercial assets and focus activity on the residential sector.”
References: EGi News 19/08/05
