Former Oxfam HQ in Oxford hits the market
The London Borough of Sutton has put Oxfam House in Oxford Business Park up for sale, with potential to redevelop the three-storey office building into a life sciences hub.
The council has appointed Lambert Smith Hampton to market the offices, which total 87,000 sq ft. It is understood the council is seeking to sell the property for around £60m.
Sources have indicated the asking price could fetch upwards of that figure, with Royal London Asset Management selling the smaller Building 2600, also at the business park, for more than £60m in January.
The London Borough of Sutton has put Oxfam House in Oxford Business Park up for sale, with potential to redevelop the three-storey office building into a life sciences hub.
The council has appointed Lambert Smith Hampton to market the offices, which total 87,000 sq ft. It is understood the council is seeking to sell the property for around £60m.
Sources have indicated the asking price could fetch upwards of that figure, with Royal London Asset Management selling the smaller Building 2600, also at the business park, for more than £60m in January.
The council bought the property from Aviva Investors in 2016 for £29.9m, reflecting a 5.28% net initial yield.
The building, which is currently vacant, was Oxfam’s HQ from 2005 until 2018, when it relocated to Nairobi, Kenya. However, it still has a lease on the property which is due to expire in 2025.
Charlie Lake, director at LSH, told EG: “With modern laboratory accommodation in acute short supply, coupled with unprecedented levels of demand in Oxford, this represents a rare opportunity to acquire a strategically located site in the heart of this prime Oxford destination for life sciences.
“We anticipate strong interest from both investors and from occupiers seeking to create bespoke solutions.”
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Image: EG Radius
