Avignon Capital, has completed a transaction on behalf of Ento Capital for £11,450,000.
Avignon completed the purchase of Olympus House, Leamington Spa, a 44,411 sq ft headquarters office building situated on a large 5.2 acre site and let to Wright Hassall LLP for a further 12 years.
Tenant, Wright Hassall LLP, have been a long-standing occupant in Leamington Spa, having been in the town for over 175 years. This acquisition provides secure long-term income to a well established and reputable local law firm.
Knight Frank LLP advised the seller.
Phil Walker, Head of Investment Management at Avignon Capital, said: “The purchase of Olympus marks our first UK transaction on behalf of our client Ento Capital.
The property benefits from attractive lease terms and despite the challenges the office market has faced due to Covid-19 the property provide secure long-term income for our client.”
The tenant has a long history with the town and 2021 marks Wright Hassall’s 175th anniversary. Despite the recent pandemic creating a lot of uncertainty around the office sector we can see the benefits of working together with colleagues and clients and are confident that offices will continue to play a key part in our working lives going forward.”
Furthermore, the town continues to develop and expand in a south-east direction and we are happy to have a holding in the area at this exciting time.”
Gateley Plc, Savills, Smith & Williamson, Babbe, and Sanova advised Avignon and Ento on the acquisition. Knight Frank and Winckworth Sherwood advised the seller