Frasers Property has acquired Lakeshore in Bedfont Lakes Business Park for £135m.
The 542,000 sq ft business park, previously owned by Evans Randall Investors, has a lettable area of 272,000 sq ft and is currently fully let to Cisco Systems until 2025.
“Lakeshore is a quality investment opportunity that reflects our long-term strategy to grow our commercial and residential assets in the UK including selectively growing our portfolio of business parks,” said Ilaria del Beato, chief executive at Frasers Property.
“The property enables us to extend from the Thames Valley into west London, benefiting from the strong recurring income of a high-calibre, multi-national occupier.
“We believe in the potential of the UK business parks sector and are committed to investing in the business communities at all our business parks, to create environments where people and enterprise can flourish. We look forward to working with the business community at Lakeshore and exploring ways to enhance the services and facilities.”
Frasers Property UK was advised by DTRE, Ernst & Young, Stephenson Harwood and Paragon Building Consultancy.
Evans Randall Investors was advised by BNP Paribas and Paul Hastings.