Family-run investment business The RO says its acquisition of 6 Bell Street, Maidenhead is driven by demand the town is seeing as occupiers seek to move out of London.
The RO acquired the 10,821 sq ft, three-storey building from LaSalle Investment Management for £4.5 million. It is let to three blue chip tenants, Aspen Pharmacare, Profitero and La-Z-Boy.
The tendency to want to avoid the long commute and a desire to work from home has made the building attractive.
David Kershaw, group real estate director for The RO, said: “6 Bell Street is our first investment made following a tranche of recent disposals. It made sense for that investment to be in Maidenhead, a thriving town with a very active business community which is also home to Maersk, FM Global, and Blackberry.
“The town has excellent access to central London, the M4 and M25 motorways, and Heathrow. Maidenhead is undergoing substantial regeneration with a number of ongoing projects in the town. However it was the proximity to the train station which proved attractive for us particularly with the arrival of the Elizabeth Line later this year.”
He went on: “As the owners of commercial buildings in and around the London commuter belt, we are seeing a significant increase in demand from businesses looking for quality office space in these areas, which also drove our decision to invest in Maidenhead.
“Hybrid working practices and a rejection of long daily commutes are trends which are pushing businesses and people away from central London and into places like Maidenhead, well known as a Royal Borough with a wonderful quality of life, and only a short distance away from London for days on which a meeting in the capital is still necessary.
“With substantial capital to deploy we are keen to secure more assets which, like 6 Bell Street, have solid fundamentals as well as asset management and development potential.”
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