London property firm acquires Cisco headquarters in £135m deal
Property company Frasers Property announced today that it has acquired a West London property in a multi-million pound deal.
The property, Lakeshore in Bedfont Lakes, is fully let to technology firm Cisco Systems as its UK headquarters until 2025.
Lakeshore, which is 541,886 sq ft, was bought from Evans Randall Investors for £135m.
A spokesperson at Evans Randall Investors said: “With its proximity to Heathrow, Lakeshore continues to benefit from good asset fundamentals alongside long-term occupational income.
“However, after 14 years in our ownership and in line with our current investment strategy it is the right time in the cycle to exit and allow another investor to take the investment forward.”
Frasers Property develops, owns and manages commercial & business parks, hospitality, retail, industrial & logistics and residential real estate in countries across the world, with its UK headquarters based in London.
Ilaria del Beato, CEO of Frasers Property UK, said: “Lakeshore is a quality investment opportunity that reflects our long-term strategy to grow our commercial and residential assets in the UK including selectively growing our portfolio of business parks.
“The property enables us to extend from the Thames Valley into West London, benefitting from the strong recurring income of a high-calibre, multi-national occupier.
“We believe in the potential of the UK business parks sector and are committed to investing in the business communities at all our business parks, to create environments where people and enterprise can flourish.
“We look forward to working with the business community at Lakeshore and exploring ways to enhance the services and facilities.”
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