02/03/15
RO Real Estate, the UK commercial property investment and development company, has completed the sale of three office assets located in the South East of England for a combined price of £7.825 million.
RO has sold One and Two Manor Park in Reading to Ultima Business Solutions, one of the UK’s leading providers of IT infrastructure solutions, for £7 million.
The properties comprise a total of 68,000 sq ft of space, located just off Basingstoke Road and one mile from junction 11 of the M4. RO completed a number of asset management initiatives at the office scheme including a major refurbishment of One Manor Park, leading to lettings to ALK Abello and Computer Task Group.
Lambert Smith Hampton and Knight Frank advised RO and Sharps Commercial advised Ultima Business Solutions on this transaction.
RO has also sold Fortune House in Egham, Surrey, to Spinnaker for £825,000. The property comprises a 4,754 sq ft self-contained two storey office building. New Ballerino and Vail Williams advised RO and the purchaser was unrepresented.
These disposals are part of RO’s ongoing strategy to reposition its portfolio by carrying out a rolling disposal programme and recycling the proceeds for reinvestment in core income and value-add opportunities in the South East. RO Real Estate still has a significant amount of cash to reinvest in lot sizes between £2-5 million.
Richard Bourne, head of RO Real Estate, said: “We will use the cash resources from these disposals to reinvest in a mix of assets which will deliver either high-quality secure income or asset management, development and refurbishment opportunities. We continue to strive towards delivering a high-quality portfolio with large capital growth potential and a secure income base.”
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For further information:
Edward Rowlandson / Nick Moore, RO Real Estate
01707 601400 / 0207 025 1780
info@rogroup.co.ukFaye Walters, Tavistock Communications
020 7920 3150
fwalters@tavistock.co.uk
Notes to Editors:
RO Real Estate is a privately-owned company specialising in commercial property investment and development in the south east. It is the property division of the RO Group, which has majority interests in businesses involved in residential development, high-quality holiday lodge developments, domiciliary and specialist care services and the development of utility-scale solar energy projects.
www.rogroup.co.uk
www.rorealestate.co.uk
