News - 21/08/2018

AEW UK REIT plc lets Orion House, Oxford, on a 25 year lease

12,842 sq ft Orion House, on the popular East Point Business Park, has let to Genesis Care on a 25 year lease.

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AEW UK REIT plc (“the Company”), which directly owns a diversified portfolio of regional UK commercial property assets, has let Orion House, East Point Business Park to Genesis Care on a new 25 year lease. Genesis Care is a specialist cancer treatment company with a portfolio of clinics across the UK. They already occupy 14,500 sq ft at East Point Business Park; following the successful application to D1 use they have acquired the recently refurbished 12,842sq ft Orion House to cater for their expansion plans for their Oxford clinic.

East Point Business Park was purchased by AEW in 2015 and comprises five self-contained office buildings. Michael Shears, Director at AEW, comments “We are delighted with this 25 year lease to Genesis Care; it is good to have such commitment from a tenant and helps demonstrate the quality of the business park and its proximity to Oxford. The letting typifies the active management style of the AEW UK REIT which buys assets in strong locations often with elements of shorter income or vacancy so that long term value can be created for its investors.“

Charlotte Reaney, Senior Surveyor for property agents, Lambert Smith Hampton comments “Genesis Care’s expansion into Orion House has helped to create a Healthcare hub at East Point, which we hope will attract more medical occupiers to site in the future. This will complement the already strong Medical, Science and Research centre that Oxford has become in the last few years.”

Lambert Smith Hampton and VSL are the joint property agents for East Point Business Park.

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