British Land buys luxury Grenfell Island property in Maidenhead for £74 M

UK property development company, British Land recently bought the luxury Grenfell Island building in Maidenhead town centre for £74 million.

The luxury office and leisure property which was completed in 2000 comprises of 113, 000 sq ft of serviced office space, available to rent on flexible terms. There is also 85, 000 sq ft of leisure space including a 10 screen Odeon cinema and health club.

Grenfell Island is conveniently located opposite Maidenhead’s railway station in the heart of the town’s commercial district. Central London is only a 30 mile journey away; approximately half an hour by car, depending on traffic.

Maidenhead is a popular spot for businesses and is one of the strongest office space markets in the south east of England. Current companies include, Adobe, Johnson & Johnson and Hutchison 3G.

Tim Roberts of British Land said, "The acquisition provides British Land with an attractive income return in an improving occupier market and fits well within our strategic priority of creating sustainable and growing property rental streams. It also has significant capital appreciation potential given both the future benefits of Cross Rail and as the markets in the South East continue to improve."

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British Land buys office-leisure project for £74