Rockspring announces office portfolio purchase

Office design news from Morgan Lovell

Published on 28-02-2011

Rockspring property Investment Managers has spent £48 million on the acquisition of office interior buildings in Surrey.

The five properties purchased by the group were the Gateway, Kings & Conquest House, Oriel House, Overline House and Hays House Guildford.

Richard Bains, Rockspring UK value fund manager, noted that the firm has acquired assets totalling more than £400 million in the last 12 months and that this latest deal has increased the organisation's office holdings by a further 252,000 sq ft and will provide rental yields of £4.79 million per annum.

Meanwhile, Saville House in Sheffield city centre was recently purchased by agent Knight Frank.

Tim Bottrill, partner at the Sheffield office of Knight Frank, said: "It is very rare for property of this quality and flexibility to be offered at these rentals. Saville House provides an extraordinary opportunity for occupiers to cut costs without sacrificing quality or location."

Posted by Ian Johnson