Maidenhead: Royal London buys Braywick Gate
23 January 2017
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BP Pension Fund has sold its offices at Braywick Gate, Maidenhead, to Royal London for circa £19 million, reflecting a net initial yield of just under 5.9%. The 40,000 sq ft building, constructed in 2004, is let to three tenants including the US biopharmaceutical company Alnylam, which has chosen Braywick Gate as its European HQ.
The average rent is £30.07 per sq ft and the WAULT is four years to tenant breaks. The building is positioned within 200 metres of Maidenhead railway station, which will be a Crossrail station from 2019.
Griffiths Eccles acted for BP Pension Fund. Royal London was represented by Cushman & Wakefield.
Courtesy of CoStar
