Procter & Gamble sells Weyfield HQ

Office design news from Morgan Lovell

Published on 07-12-2009

Multinational manufacturer Procter & Gamble (P&G) has sold its Weymouth headquarters in a deal worth £30.5 million to a US investment firm.

Property Week reported Gatehouse Bank has purchased the modern office design property from P&G - which includes 109,290 sq ft of grade A office interior and conference space - as it looks to bolster its holdings in the UK.

"It is a clear indication that the UK remains an attractive investment environment for dollar-based investors and we are confident that this will be the first in a series of similar investments," commented Richard Thomas, chief executive officer of Gatehouse Bank.

Elsewhere, engineering consultancy firm EASL recently announced the purchase of 8,000 sq ft of modern office design space at Altrincham Business Park in Trafford.

The firm paid £1.2 million for the office interior unit, with other residents at the park include Milner Boardman, Thermo Electron, National Grid Wireless, Jarvis Construction and Printerland.