Real estate firm sells business park to private investor
Boundary Real Estate Partners has sold its freehold interest in Granite House at Watermead Business Park, Leicester, to a private investor.
The deal marks the completion of the office segment of Boundary’s portfolio at the business park.
The recently refurbished, self-contained office building, located north of Leicester town centre, spans 48,526 sq ft over two floors and includes 350 car parking spaces.
Granite House is fully leased to GPUK LLP (Global Payments) and E.ON Next Energy, generating an annual rent of £812,788, or £16.75 per sq ft.
Charlie Walker, founder of Boundary, said: “We are delighted to have now completed the sale programme from the office element of the portfolio at Watermead. We acquired Granite House in December 2021. Half let to GPUK, we set about transforming the property to provide a high-quality HQ building. The refurbishment works were substantial and this investment enabled the letting to E.ON Next.”
Mark Porter, director of UK investment at Savills, said: “The refurbishment works and subsequent letting to E.ON Next provided a high-quality stabilised asset and gave rise to a disposal opportunity of the completed fully let investment. Our marketing of the property targeted an identified pool of active buyers, particularly those with a specific interest in the East Midlands, and we are pleased to have secured a successful outcome for our client.”
Tom Nock at CBRE represented the purchaser.
