Leading independent property Asset and Fund Manager, Rockspring, has purchased Mott MacDonald House, a 64,000 sq ft office property in Croydon, for £21.2m from Aviva Investors.
Arranged over ground and six upper floors, together with 31 on-site car parking spaces, the asset is fully let to global management, engineering and development consultancy Mott MacDonald with a 6.7 year unexpired lease.
The acquisition was part of a trio of investments by the firm.
Jamie Younger, head of UK transactions at Rockspring said: “These transactions demonstrate our highly selective approach to stock picking, which is underpinned by in-depth research on the fundamentals of each asset. Each of the acquisitions is located in performing locations with income growth potential, either through asset management or performance linked, long-term leases.”
You can find out more about Croydon’s commercial offer at Generation Croydon, the ninth Develop Croydon Conference, on 20th November. Join Mark Easton, Jules Pipe and more to discuss, debate and assess how the town can cater for the young and old as it continues to undergo major regeneration. For more information: http://developcroydonconference.co.uk