10 Aug Spelthorne buys in Uxbridge
Spelthorne Borough Council has announced the purchase of The Charter Building in Uxbridge, in a package deal for three buildings.
They have acquired the Charter Building along with The Porter Building in Slough and Thames Tower in Reading for £285m from Brockton/Landid.
Spelthorne recently bought a Hammersmith building, and have also bought the BP International Campus, World Business Centre 4 at Heathrow, and a property at Stockley Park in a concerted attempt to build non-government revenue streams.
Landid recently secured Lavazza as a tenant in the Charter Building.
Leader of the Council, Cllr Ian Harvey, said: “I am delighted that we have been able to secure these excellent investment properties. This purchase fits well with our strategy to provide secure revenue streams which help us fund important services for our residents, avoid cuts, and help us deliver various projects to provide much needed additional housing in the Borough. This is one further step in our drive to become financially self-sufficient. Once again we have demonstrated that “Spelthorne Means Business”.
“We only purchase if an investment generates a significant and sustainable annual revenue stream to support the services we provide to residents.”