Caudwell Properties acquires Trilogy Building in Swindon

£9m paid for Motorola’s high-tech R&D facility and offices in Kembrey Park

Article posted: 07 Jan 2011

Highcross, advised by Strutt & Parker, has sold the freehold interest in offices in Swindon at Kembrey Park. The Trilogy building has been purchased by Staffordshire-based Caudwell Properties for £9,025,000.

The property comprises a recently refurbished, high-tech research and development building totalling 73,256 sq ft and is let in its entirety to Motorola Limited on a new 10 year lease with a tenant’s option to break at the 5th year. The rent passing is £940,193.50 per annum, equating to £14.50 per sq ft on the office accommodation and £5.75 per sq ft on the warehouse accommodation.

In November last year Office Space News reported that Jones Lang LaSalle had been appointed to manage Caudwell Properties’ UK portfolio which comprises some 920,000 sq ft of offices and industrial space across the country.

The mandate includes multi-let offices in Newcastle at the 60,000 sq ft Grade A 1 St James' Gate and 87,500 sq ft of office space in Solihull at Sapphire Court. The portfolio also includes four single let office and industrial investments located in Yorkshire and Hampshire.

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Posted by Julie