Since 2016, HTC’s London Investment team has been acting on behalf of an off shore trust to acquire a number of notable office investments in London since 2016 and continue to be instructed to seek further investments nationwide to complement their existing portfolio. In October 2017, REEF Spezial Invest GmbH brought to the market the freehold interest of 1 Longwalk Road, Stockley Park, a 74,954 sq ft headquarters building, fully let to Celegene Europe Limited at a passing rental of £2,096,000 per annum. The lease expires in November 2020. The building is located immediately adjacent to 2 Longwalk Road, Stockley Park which was purchased by our clients in 2016.
The purchase of 1 Longwalk Road, Stockley Park was identified as a very suitable addition to the existing portfolio. The team entered into negotiations and despite strong competition agreed the purchase of number 1 Longwalk Road for circa £30 million reflecting a net initial yield of 6.7% and a low capital value of £400 per sq ft.
Our client is delighted to have added 1 Longwalk Road to their UK portfolio, especially as it builds on their ownership in one of the country’s leading UK business parks and is securely let to a good quality tenant. HTC has built a strong relationship with the client through its multi-disciplinary approach across a number of its business areas. From Investment Agency acquiring the premises and Building Consultancy providing a pre-acquisition survey through to the management of the property through our Property Management and Facilities Management teams.
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Following the Government announcement on 31st October, we are pleased to advise that our colleagues continue to operate successfully, with the majority working from home, and we do not anticipate any impact to the service provided. We remain fully contactable on either mobile phone or email.
Alternatively, if you are uncertain who to contact then please call our main reception on 0117 923 9234 between normal office hours 9.00am to 5.30pm for help.
If you require further information on a particular property we are currently marketing, the details are set out on our website (click here).
If you have an enquiry regarding a property we manage, please contact the appropriate property/facilities manager (https://www.htc.uk.com/about-us/team/). In addition, you could contact our 24/7 helpdesk available on 0345 241 1528.
If you do experience a delay in contacting your chosen Hartnell Taylor Cook representative we thank you for your patience during the current situation.
Hartnell Taylor Cook
5th November 2020