Avis House, BracknellProperty:Modern HQ offices
Area:61,000 sq ft
Purchase Price:c. £8.7m
Claymore Role:Acquisition & Investment Management
Image 1 of 1
Acting on behalf of Gulf based private investors, Claymore acquired this 61,000 sq ft office investment in December 2012, for £8.7m, reflecting a net initial yield of 10% pa (£150 psf).
The property, located on the edge of Bracknell town centre, is let to Avis (Europe) Holdings Ltd on a lease expiring in 2027.
The deal was a continuation of Claymore’s successful acquisition programme for overseas clients. The property provided excellent security of income with the potential to add value through rental growth and extending the lease, in return for undertaking essential replacement works for the tenant.