Luton office building purchased for more than £60m by private investor
An office building in Luton has been purchased by a private investor for more than £60m.
300 Capability Green, which is made up of 181,750 sq ft of office and research and development space, was sold for £62m by a private client of Citi Private Bank.
The building is currently fully let to BAE Systems on a 25-year lease, offering a further 10 years of income.
It is under let to Leonardo MW who are an international supplier of aerospace and defence equipment and one of the biggest suppliers to the Ministry of Defence.
Property consultancy Allsop recently won the mandate from Citi Private Bank to be their retained agent for direct commercial UK real estate acquisitions for their private clients.
Allsop commented: “Located at one of the region’s premier business parks situated along the M1 corridor, it benefits from excellent transport links, including London Luton Airport, just two miles away and train links to London St Pancras with a journey time of 24 minutes from nearby Luton rail station.
“Luton is also undergoing significant regeneration, sparked by £1.5bn of investment in the area and the delivery of infrastructure projects such as the expansion of London Luton Airport.”
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