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Reading: Abbey Gardens to be sold for £40m

13 June 2017
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Finance

Palm Capital is set to buy the Abbey Gardens office complex in Reading from Hermes Investment Management for circa £40 million, according to reports.

Abbey Gardens is a circa 150,000 sq ft complex comprising two buildings which Hermes bought in 2011 for £19m from PFA Invest International.

Alongside Bell Hammer Hermes completed the speculative redevelopment of the 77,250 sq ft Abbey Gardens South in 2013 and has subsequently secured a number of lettings taking rental levels to around £31.50 per sq ft.

Montagu Evans advised Hermes.

Source: CoStar


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