A purpose-built detached office near Milton Keynes has been acquired in an investment deal for £1.49 million.
In the Buckinghamshire market town of Olney, the two-storey premises were purchased by a private investment company based in Hampshire and were advised by Vail Williams.
The single-let building of 6,769 sq ft, built in 2015, was marketed by property consultancy Lambert Smith Hampton, who represented the building’s owner and sought offers in excess of £1.34m.
With a maximum EPC rating of A, 1 Olney Office Park, at 1 Osier Way, is let to G2 Energy, a UK-based company involved in the renewable energy sector.
On completion of the deal, the company signed a 15-year lease at £102,885 per annum, equivalent to £15.20 a sq ft.
Ben Duly, a senior surveyor with Vail Williams, said: “On behalf of our client, we were tasked with sourcing investment opportunities with long-term capital growth along with longevity of rental income from a respected occupier in a high-quality building which is energy efficient and therefore does not require retrofitting to meet new environmental compliances.
“Furthermore, the office is served by the M1 motorway, with the A509 through Olney providing direct links to Milton Keynes 11 miles to the south, whilst the A428 connects to Northampton and Bedford, both 11 miles away.”
Ben, who works from Vail Williams’ offices in Hampshire and Dorset, added: “There are investment opportunities in 2023; we continue to source them across the country on behalf of our clients.”
Legal firm Shakespeare Martineau in Leicester acted for the vendor, a private company, and Bells Solicitors in Romsey, near Southampton, represented the purchaser.