Northwood Investors is poised to buy the Blade skyscraper in Reading for a price thought to be around £40m, Property Week can reveal.
Aviva Investors’ landmark building, which at 14 floors is the tallest in the town, spans 110,000 sq ft and is almost 80% let. The purchase price reflects a 7% yield.
The tower, which takes its name from the Sheppard Robson-designed spire on its roof, was put up for sale earlier this summer through Knight Frank.
The acquisition will be the latest in a string of investment deals in Reading as investors flock to take advantage of the impact of the Elizabeth Line opening in 2019.