Boultbee Brooks sells Amersham office to TEAL Property Holdings for £5.2m
Boultbee Brooks Real Estate (BBRE), the privately-owned investment and development company, has sold Latimer House, Anglo Office Park, Amersham to TEAL Property Holdings (TPH) for £5.2m (£235 psf). The 2002 built office property, which was formerly occupied by the Bank of Scotland until their lease expiry in November 2017 will become the new corporate headquarters for the UK’s largest independent toy retailer, The Entertainer.
The property, located less than a mile to the east of Amersham Town Centre, provides direct access to Junction 18 of the M25 and junctions 1 and 2 of the M40, and is a short drive from Amersham Rail station and Chalfont & Latimer underground station.
Arranged across two floors and split into two separate wings, Latimer House provides circa 22,000 sq ft of flexible modern accommodation with 83 car spaces offering an excellent parking ratio of 1:268 sq ft.
Lucy Boultbee Brooks of BBRE, said: “Having acquired Latimer House in 2015 as a high yielding office investment with a short unexpired term, our original business plan had been to proactively refurbish the building at the end of the Bank of Scotland lease. We subsequently however received the TPH approach via Chandler Garvey, who we had retained to advise on the local occupational market. It soon became clear they were keen to acquire the property for their own occupation and we were happy to engage with them and agree an earlier than planned exit.”
Robert Cannock of Aurum Real Estate Partners; BBRE’s retained portfolio investment advisor, further commented, “We regularly review opportunities within BBRE’s portfolio and whilst this sale wasn’t planned, we are happy to opportunistically dispose of the asset as it returns equity to the business at a time when we are actively seeking new speculative opportunities throughout the South East and strong regional centres.”
BBRE were advised by Aurum Real Estate and Chandler Garvey.