Three deals announced by Hicks Baker

Hicks Baker has announced three office deals across Berkshire including one which will involve a conversion to residential.

Working with Fryer Commercial on behalf of vendor, Oakland Commercial Properties LLP, Hicks Baker completed the sale of 12 Oaklands Business Centre, Wokingham, to Barker Homes.

It was marketed with an asking price of £2.25 million but the sale terms are undisclosed. The 11,780 sq ft office was built by Luff in the 1980s and has since been refurbished and reconfigured into four units.

However, the site has consent for an additional floor and conversion to 25 flats. Construction work will start imminently and homes are expected to be selling by early Summer 2021.

Steve Head, business space director at Hicks Baker, said other options for the building included owner-occupation or acting as an income-producing commercial investment.

He added: “This generated a wide range of prospective purchasers and this sale is an excellent result in the current difficult market conditions.”

Barker Homes was unrepresented. Working on behalf of US pharmaceutical firm Zogenix International, Hicks Baker has completed a 10-year lease (with five-year break option) on7,331 sq ft of offices at the Pearce Building, TH Real Estate’s 50,993 sq ft development in Maidenhead town centre.

The landlord was represented by DTRE and Knight Frank. Working with Haslams, Hicks Baker has completed a five-year lease on a 1,350 sq ft suite to software-provider Temenos at Building Three, Waterside Drive, Arlington Business Park at Theale.

Just one suite of 3,850 sq ft suite remains in the 80,000 sq ft Waterside Drive complex.

Image: Oakland Business Centre.