Mapletree completes Green buy
Singaporean investor Mapletree has completed its acquisition of Oxford Properties’ Green Park in Reading, Berkshire, for £563m. The 195-acre business park is one of the largest in Europe and comprises 19 buildings. Oxford Properties was represented by Eastdil Secured, Cushman & Wakefield and DLA Piper. Mapletree was unrepresented.
De Walden poised in W1
The Howard De Walden Estate is under offer on a prime West End asset. It is poised to purchase Wesleyan Assurance Society’s 7-10 Chandos Street, W1, for £70m – a yield of 2.66%. BNP Paribas Real Estate is acting for Wesleyan Assurance.
Rowe bags Ryde Travelodge
Rowe Group has bought the freehold of a new 41-bedroom hotel in Ryde on the Isle of Wight for £2.3m – a 5.75% yield. The hotel, which was sold by CHG Property Developments, is occupied by Travelodge on a 25-year lease, producing an initial rent of £143,500 pa, subject to
five-yearly reviews. Knight Frank acted for the vendor; Alder King advised the purchaser.
