Marchmont South-East Office Sale

Marchmont sells 28,000 sq ft Guildford Office Building for £8.51m.

Marchmont Investment Management, the private real estate investment manager, announces the sale of Connaught House, Guilford to Beltane Asset Management LLP for £8.51 million. Connaught House is a significant refurbishment opportunity in Guildford Town Centre, let on a short term lease to Lloyds Bank. The property was acquired by Marchmont in December 2013 for £5.95 million and during the hold period a comprehensive refurbishment was master-planned and a pre-application made to the Council for additional space.

Tim Lumsdon, Director of Marchmont commented, “We took the opportunity to sell this investment ahead of business plan, prior to committing significant capex. The timing highlights continued appetite for well-located south east office buildings with strong underlying property fundamentals.”