Off-market acquisition, substantial prelet and capex programme

Reading

At a glance

Region:

South East

Purchase price:

Confidential

Net Initial Yield:

Confidential

Sector:

Business Park Office

51.460408

-0.931162

Why we invested

Thames Valley Park is home to Microsoft, Sanofi and Huawei. 420 was acquired off-market from an administrator, with OpenText secured on a 10-year lease prior to completion.

Freehold asset on one of the South East's premier business parks
Acquired at a deep discount to replacement cost and reflecting ownership in administration
Anchor tenant secured on a 10-year lease with corporate guarantee
Vacant part second floor offering significant upside on letting

How we’re building wealth

Comprehensive Grade A refurbishment — new building services, CAT A part second floor, reception, washrooms and common parts
Targeting EPC A and BREEAM Excellent to meet modern occupier and ESG standards
Actively marketing the vacant second floor

Business plan

Exit

No items found.

Our portfolio

Fixed ideas hinder the search for value. At Boundary, we are active across all sectors and our strategies reflect this flexibility. Some are led by capital value - involving tax or corporate entity restructuring, refurbishment or development. Others focus on maximising income, with the emphasis on improving rental levels and lease duration through active asset management. We are focussed on releasing value through inventive strategies and impeccable execution. Our portfolio reflects the success of this approach:

Kingston

M25 Inner

Superbly situated, easily enhanced

Office, Studio, Lab space, Residential development

Leamington Spa

West Midlands

Strong yield, short supply

Office, Retail

Reading

South East

Off-market purchase, administration driven

Industrial, Development

Guildford

South East

Hidden value, clear direction

Office, Retail

Camberley

M25 Outer

Realigning rents, enhancing experience

Industrial

Plymouth