Sutton Council nears sale of former Oxfam HQ in Oxford

Sutton Council is close to striking a deal to sell Oxfam House in Oxford Business Park to Nuveen for £50m. The US investor is the frontrunner to buy the 87,000 sq ft office building from the south London council. Other parties evaluating the opportunity earlier in the year included Breakthrough Properties, a jv between Tishman Speyer and Bellco Capital. It is looking to acquire the three-storey property for potential redevelopment into a life sciences hub, according to market sources. In May, the council appointed Lambert Smith Hampton to market the building with a £60m price tag, as revealed by EG. The council bought the building from Aviva Investors in 2016 for £29.9m, reflecting a 5.28% net initial yield. Oxfam House is vacant, having served as the charity’s headquarters from 2005 to 2018 until its relocation to Nairobi, Kenya. However, it still has a lease on the property, which is due to expire in 2025.   To send feedback, e-mail evelina.grecenko@eg.co.uk or tweet @Gre_Eve or @EGPropertyNews Image © Radius View other office availabilities in Oxford >>