Hedge End: Pitmans acts for Wyncon Botleigh
Pitmans, a leading commercial law firm in the Thames Valley and London, has acted on behalf of the Bank of Scotland Corporate in the funding of a £4.51 million property development facility to Wyncon Botleigh LLP.
Wyncon Botleigh has purchased Phoenix House, and obtained planning permission for a 23,520 sq ft two-storey office building at Botleigh Grange, Hedge End, near Southampton. The development of the building will be completed towards the end of 2008. This is located on a prime office campus on the outskirts of Southampton which already houses a number of large businesses, including Vosper Thornycroft Group Plc, Glenn Dimplex UK, AXA and State Securities plc.
Wyncon Botleigh LLP is one of a number of LLPs that have been formed by Strutt and Parker Real Estate Financial Services (SPREFS) which allows participants in the fund to benefit from a reduction on inheritance tax for monies invested in the funds. The funds are run by a team of property professionals that have good experience of the commercial property market.
The site is located five miles to the east of Southampton City Centre and has excellent road, rail and air links close by.
Stephanie Perry, Partner, Pitmans Corporate and Banking Department, said: “We are delighted to have been associated with the funding of this development of high quality office accommodation which will be based adjacent to one of the Bank’s major corporate offices in the South East. Southampton is now one of the largest commercial centres in the South East and will benefit from further quality office buildings with parking facilities."
