Investor and developer Pigeon has announced the £7.1 million acquisition of Parkview House, a Grade A office building in Chelmsford city centre.
The strategic purchase is Pigeon’s first office acquisition post-Covid era and Pigeon says the move demonstrates its confidence in the commercial property market.
Parkview House boasts a number of financial and professional service occupiers and has close proximity to the railway station, shops and a park. It also boasts a positive parking ratio.
Ben Guest, director – investment at Pigeon, said: “We are thrilled to add Parkview House to our portfolio.
“This acquisition aligns perfectly with our strategy of investing in high-quality assets in strong locations. The limited Grade A office supply in Chelmsford, combined with the building’s reversionary potential and possible alternative use for residential conversion, made this a compelling opportunity.”
Just one suite of 7, 500 sq ft is currently available in the four-storey building.
© Eastern Echo (powered by ukpropertyforums.com).
Sign up to receive our weekly free journal, The Forum here.
