Farnborough: Business Park on the market for £175m
US private equity firm Harbert Management Corporation and joint venture partner XLB have formally brought to market Farnborough Business Park in Hampshire for £175 million.
The partners have appointed CBRE to market the 554,000 sq ft office campus, which is fully leased to 35 tenants with an average rent of £23.75 per sq ft.
Harbert Management Corporation and XLB bought what was IQ Farnborough from SEGRO in 2012 for £90.1m.
The park is home to businesses such as Fluor, Time Inc, Aetna, Capquest and now INC Research and has a variety of amenities including a four-star De Vere Hotel, a Health & Fitness club, Cafes, Nursery and a drive-thru Costa Coffee.
Harbert/XLB have been successful in securing a number of lettings as well as preletting speculatively developed offices.
INC Research signed at Pinehurst 1 Farnborough Business Park in March, taking the new speculative scheme to full occupancy and landing the largest leasing deal in the M3 corridor in more than five years.
