L&G Property buys Uxbridge office interior space

Office design news from Morgan Lovell

Published on 06-11-2009

Legal & General (L&G) Property has purchased modern office design space at Stockley Park in Uxbridge.

The firm has purchased No 4 The Square which contains 81,403 sq ft of office interior design space for £26 million from Ropemaker Facilities. The building is currently let on a 15-year lease to Cisco, which pays an annual rent of £2.4 million for the property.

Other tenants at the development include Rackspace, Perot Systems and Almirall.

Michael Barrie, director of balanced funds at L&G Property, said: "The key to securing good assets remains the ability to act quickly and in this instance, we successfully closed this deal in just nine days."

Elsewhere, Rockspring Property Investment Managers recently brokered a £268 million deal for the National Pension Service Central London Property Limited Partnership fund to purchase two modern office design buildings in the capital.

The fund bought 88 Wood Street in the City of London and a 50 per cent stake in 40 Grosvenor Place in Victoria.