Disposal of a 236,000 sq ft multi-let commercial business park
Rockspring Property Investment Managers
Rockspring originally acquired the 112-acre site, in partnership with asset manager XLB Property, in 2014 for £21m, with 80,000 sq ft of existing net lettable space.
Since then, Rockspring and XLB have undertaken a significant construction and asset management programme across the site, including the development of an additional 80,000 sq ft of office, laboratory, mid tech space across three buildings, together with 76,000 sq ft of industrial space across a nine-unit scheme called Enterprise 5,000, which completed in May 2018.
The asset management undertaken has added significant value and delivered a circa 45% uplift in the Park’s rental tone prior to the sale.