Milton Keynes commercial property

Our work - 05/02/2019

Hexagon House, Milton Keynes: disposal of out-of-town office building

Instructed by Screen GP Europe (BV).

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We were instructed by Screen GP Europe (BV) to dispose of Hexagon House, a 28,987 sq ft out-of-town headquarters office building in Milton Keynes.

The Milton Keynes office market has experienced significant rental growth in recent years (headline rents now £27.50), and the property’s very low rent of £7.83 per sq ft, offered investors the opportunity to drive income return upon re-gearing/re-letting the property at market rent.

We undertook detailed pre-sale due diligence, acting with the local market insight of our Milton Keynes office to undertake a full brochure led-PR and marketing campaign to attract high levels of interest.

The property was sold at a price of £3.608m, 13% higher than the quoted price to a private investor who completed the purchase in a timely manner.

 

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