Business space and logistics specialist Arlington has consolidated its investment at Oxford Business Park by acquiring four office buildings from Aviva Investors, totalling 128,000 sq.ft.
Powell Williams provided technical due diligence for Arlington, on its acquisition, with minimal disruption to the occupiers.
The buildings have a WAULT (weighted average unexpired lease term) of five years and are let to John Wiley & Sons, Freeths and Cancer Research UK, together with one vacant building of 18,814 sq.ft which offers a refurbishment opportunity.
James Raven, Arlington’s CEO, said:
“Our strategy is to create a series of amenity rich assets with a strong focus on customer engagement through a combination of opportunity-led expansion, developing out our landbank and investing in our approach to building and managing customer relationships. This purchase allows us to create a wider customer offer, and to spread our amenity investment in Oxford Business Park over an increased majority of the Park.”
The investment is paying off as we continue to support new occupiers in providing a first-class working environment and accommodating the growth of our existing customer base. 2019 is proving to be an exciting year.”
Oxford Business Park includes around 70 occupiers across more than 1m sq.ft.
Martin Hunt, Powell Williams partner, added:
“We are delighted to be working with Arlington, a pioneer of the UK business park concept and one of the UK’s most respected investment and asset management businesses. We are looking forward to continuing to assist Arlington with future transactional surveys, and the provision of our broader project management, development monitoring or building consultancy services.”