We were instructed by Clearbell on behalf of their Chalk Portfolio to dispose of Voyager Place, a 57,577 sq ft Grade A office building in Maidenhead.
We supported their acquisition of the asset in 2015 for a price of £14.55m and subsequently carried out extensive repositioning of the asset in the form of a £7m refurbishment. We also advised upon and supported the leasing to a 5A1 covenant for a 10 year term.
We used a multi-disciplinary team out of both our London and local office to undertake detailed pre-sale due diligence, bolstered by our knowledge of the building having acted on the original acquisition. We undertook a full brochure-led PR and marketing campaign to attract high levels of interest.
The property was sold in October 2018 for a price significantly in excess of the quoted price, at £31.09m/5.25% NIY to a Local Authority purchaser who completed the sale in a timely manner.
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