Developer Kingsbridge Estates has completed the £10.95 million acquisition of a prime office building in the heart of Guildford town centre from M&G Real Estate. Kingsbridge Estates has acquired the freehold of the property in joint venture with a private family office and plans to maintain the office use with future plans to undertake an extensive refurbishment to Grade A standard.
Greg Lukasiewicz, Investment Director at Kingsbridge Estates, said:
Antony Leech of TT&G Partners and Derek Corden of Kingstons were agents for Kingsbridge Estates, while Sam Gibson of JLL acted for the vendor. Michelmores provided Kingsbridge legal advice on purchase and JV structuring, while Hogan Lovells LLP represented the seller, M&G Real Estate.
Kingsbridge Estates is a privately owned property company focused on developing and investing in commercial property across the South of England. Kingsbridge has recently completed an extension and refurbishment of the office building 2 Charlotte Place in central Southampton as well as a project at Concorde Park, Segensworth, creating 10 new industrial and warehouse units. Among its current projects is the development of 12 new business units at the site of the former Buttericks factory in New Lane, Havant, due for completion in November 2021