London real estate investment firm acquires Government office building in Taunton for £14m
Aprirose, the London-based real estate investment firm, has completed a £14m acquisition of a headquarters-style office building located in Taunton.
The office building is let in its entirety to the Secretary of State for Housing, Communities and Local Government, on a 10-year unexpired term ending on 21 August 2027.
The Secretary of State for Housing, Communities and Local Government is department of the UK Government and a Moody’s AA credit rated tenant.
Constructed in 2006, the premises was originally built to be a regional Fire Control Centre.
The building is 24,370 sq ft, has 74 secure car parking spaces across and is situated in Taunton’s Blackrook Business Park, which is positioned two miles from Junction 25 of the M5 Motorway.
Manish Gudka, CEO, Aprirose, said: “The long-income Government let office building represents a fantastic and highly secure investment for Aprirose.
“Moreover, Taunton is Somerset’s largest town and is the county’s administrative, retail and financial centre.
“Blackrook premier Business Park where the office is situated is home to numerous amenities and other strong corporate and local tenants. We continue to look for the best investments for our investors and act swiftly to complete them.”
Alder King represented Aprirose and CBRE represented the vendor.