Buxton Court Press Release

Martin’s Properties is pleased to announce it has completed the off-market acquisition of Buxton Court a newly refurbished Grade-A office building in Oxford.

This is Martin’s Properties first acquisition in Oxford as the UK property investment and development company look to diversify their portfolio into new investment and development opportunities across all sectors in Prime Central London and regional Southern England.

The 19,696sq ft newly-refurbished property, with 74 parking spaces, is currently let to Oxford University for a further 12.7 years with a break in 7.7 years. It is currently occupied by Oxford University Innovation, who are responsible for offering commercial skills and a range of specialist resources to capitalise on the University’s research impact.

The property was acquired from Aviva Investors for a price of £6,625,000, reflecting a net initial yield of 5.43% and a low capital value of £336 per sq ft. The current passing rent is £383,916 pa., which reflects a very low overall rent of £19.50 per sq ft.

Richard Bourne, Property Director at Martin’s Properties comments ‘Buxton Court is an exciting proposition for us, Oxford represents a real growth area for innovation and technology businesses. The city has enjoyed the strongest half year take up on record, which combined with the severe stock shortages, has led prime rents to reach £30.00 per sq ft. This imbalance of supply and demand for office space is a great opportunity for us to capitalise on the strong market dynamics. The location is within walking distance to the rail station and city centre amenities whilst offering easy access to the A34 ring road.  We are proud to welcome The University of Oxford as one of our valued customers.’

Tom Martin, Managing Director of Martin’s Properties comments ‘This acquisition builds on our strategy to diversify our portfolio into areas with good rental and capital growth potential enabling us to deploy more of our cash into strong markets, towns and assets such as Buxton Court.’

Cushman & Wakefield acted for Aviva Investors.

ACRE acted for Martin’s Properties.

For press enquiries please contact:

Bronya Heaver, bronya@maisoncomms.co.uk 07813 680 704
Henrietta Harwood-Smith, Henrietta@maisoncomms.co.uk 07866 529 159

Note to editors

Martin’s Properties, established 70 years ago, is a family owned, London based UK investment and development company with a prestigious property portfolio worth in the order of £375 million. Their assets include a mix of commercial, retail, residential, office, leisure and mixed use properties mainly in Fulham and Chelsea, London. Martin’s Properties is a customer and community facing business with a focus on creating and managing sustainable, well-designed buildings that enhance the local environment and deliver exceptional customer service.

2018-05-29T11:36:46+00:00