Bray Fox Smith advise BlackRock UK Property Fund on the acquisition Atrium office building in Uxbridge for £55.9m
The Atrium is a 138,000 sq ft prime multi-let office property with high quality tenants, including Anadarko, PwC and Insight Direct, among others. The property was purchased at a yield of 5.7% and has a capital value of £405/ sq ft.
Justin Brown, portfolio manager at BlackRock, said: “This is a quality, core investment for the portfolio that will prove resilient in all market conditions. Uxbridge is a historically stable market, particularly within the office sector, and as such attracts premier tenants.
“The Atrium is one of the best multi-let office properties in the South East. It offers attributes that are difficult to replicate in modern buildings, providing atrium space, strong natural light and car parking which are all attractive characteristics to long term premier tenants.”
Bray Fox Smith acted as agent for BlackRock.
