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£3.65 Million Paid for Slough investment

30 October, 2007

A private client of Hartnell Taylor Cook LLP’s London office has acquired Ambassador House, Slough, a mixed use freehold investment.

Ambassador House comprises a three storey building constructed in the mid 1980’s, providing four retail shops on the ground floor, offices on first and second floors and two residential flats at the rear. It is prominently located approximately 1.5 miles to the east of Slough Town Centre on the A355 Farnham Road. Nearby occupiers include Woolworths, Sainsburys, Greggs and Blockbuster.

The property is fully let and generates a total annual income of £264,720. The tenants include Britvic soft drinks, The Salvation Army Trustee Company and Smith Meter Inc. The building includes a large car park to the rear and covers a total site area of 0.44 acres.

A South African investor, Oaktree Properties Ltd sold this substantial block for £3.65 million, reflecting a net initial yield of 7%.

Hartnell Taylor cook LLP advised the purchaser Vantage Asset Management and Conway Relf advised the vendors.