Schroders is poised to acquire Woking Business Park from clients of Arlington Securities for £35m

The business park on Albert Drive was placed on the market last month at an asking price of around £34m through adviser HP Four. The purchase price reflects a yield of around 5.75%.

Schroders defeated five shortlisted bidders and was selected as preferred option this week. The transaction is expected to complete by the end of the month.

The 245,000 sq ft (22,761 sq m) park near the A320 generates an annual income of around £2.2m.

Large occupiers include Formula One teams Mercedes and McClaren.

None of the parties involved would comment.