Office block sold for £22.6mBy David Millward
April 05, 2012
Energis House in Forbury Road has been sold for £22.6 million.
PRUPIM has bought the old Metal Box building from Scottish Widows Investment Partnership (SWIP) in one of the area’s largest office investment deals so far this year.
The landmark building, next to Yell’s HQ One Reading Central, is let to Cable & Wireless until July 2015 but could then be demolished to make way for Two and Three Reading Central, The 108,000 sq ft office building sits on a development site totalling 3.47 acres.
Lambert Smith Hampton (LSH) acted for SWIP while commercial real estate adviser CBRE represented PRUPIM.
Nick Coote, head of LSH’s Thames Valley team, said: “This is a significant investment deal for Reading and the wider Thames Valley office market.
Carolyn Clark of CBRE’s Business Space Capital Markets team said: “This acquisition represents one of the largest transactions in the South East office market in 2012.”