Transactions - NOVEMBER 18, 2015

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AEW Europe pays £326m for England office portfolio

by Andrea Waitrovich

AEW Europe is under contract to purchase a portfolio of offices on the Bath Road in Slough, England. The seller is SEGRO. CBRE represented the seller.

The sales price is approximately £326 million ($503 million).

SEGRO placed the portfolio on the market in September. It consists of 972,300 square feet of office properties and one building currently being developed. SEGRO said the portfolio generates £21.6 million  ($32.9 million) of annualized rent and has a vacancy rate of approximately 5 percent.

Major tenants include European broadband and telecommunications company Telefonica, Blackberry and Fiat Group.

The Slough Trading Estate is the largest industrial estate in the SEGRO's portfolio, with 6.5 million square fee of office and warehouse space.

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