Carter Jonas has sold a 22,545 sq ft office building in Oxford on behalf of a private client for £7.86 million.
Willow Court at Minns Business Park, a multi-let building, west of the city centre, has been acquired by Custodian REIT.
The building is well-known to the property consultant which has provided building consultancy advice, property management services and commercial agency support there over a number of years.
It is currently let to RBS, Dehns, Charles Stanley, Oxentia and the Smith Institute for a total rent of £537,496 per year.
Jon Silversides, partner and head of commercial agency at Carter Jonas Oxford said: “Our long-term involvement with Willow Court has helped to ensure a strong occupier line-up, as well as a joined-up and proactive refurbishment and disposal strategy for our clients – ultimately resulting in a successful sale process.
“Whilst our relationship with this scheme is now at an end, we are particularly pleased to have demonstrated the benefits of a thorough and comprehensive service at Willow Court.
“In what remains a challenging trading environment, Oxford continues to attract considerable investment interest, for all the right reasons.”
Richard Shepherd-Cross, managing director of Custodian Capital Limited, discretionary investment manager to Custodian REIT, said: “We are delighted to have secured this office building in a proven location with a strong tenant line-up.
“Due to local development restrictions office supply in the vicinity has a history of high demand. The modern and recently refurbished property also has potential asset management opportunities to enhance value and extend its income profile.”
BNP Paribas Real Estate acted for Custodian REIT.
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