Europa Capital announces that the joint venture between Europa Fund II and St Congar Properties Ltd has sold its freehold interest in Imperial House, 67 Alma Road, Windsor to NFU Mutual Insurance Society Ltd for an undisclosed price. NFU Mutual’s joint venture partner Salmon Harvester Properties Ltd plans to implement the planning consent for a new headquarter office development comprising four office and ancillary buildings totaling 25,464 sq metres.
Richard Topps, Head of Property at NFU Mutual said: “Together with Salmon, we aim to create a first class development with a tenant profile for likely long term hold for NFU Mutual. This is another exciting scheme for us and further demonstrates the strength of our joint venture with Salmon where we have the financial resources available to secure developments in which the risks are managed by Salmon.”
Rorie Henderson, Development Director at Salmon, added: “We shall look forward to continuing the good work already done in preparing the development for delivery and are confident in the leasing prospects for the project. This further underscores our confidence in the M4 corridor leasing markets following our recent announcement of an imminent start to our 130,000 sq ft development at 2 Glass Wharf, Temple Quay, Bristol.”
Savills advised the vendor, Jones Lang LaSalle advised the purchaser.
For further information please contact:
Gordon Simpson/Charlotte Whitley, RLM Finsbury: +44 20 7251 3801
Europa Capital is an established real estate fund management group operating across Europe adding value through risk-based acquisition strategies and active asset management on behalf of its investors. Since 1995, Europa Capital’s Principals have collectively raised 7 real estate funds and committed to over 75 transactions totalling some €7.0 billion across 18 European countries.
The Europa Funds benefit from Europa Capital’s established network of partners across Europe who co-invest in acquisitions made by the Europa Funds. These country and joint venture partner relationships in some cases extend back more than 20 years.
Further information can be found at www.europacapital.com.
Europa Capital is a member of The Rockefeller Group (“RGI”). RGI is a strategic investor alongside Management. Europa Capital Partners LLP and Europa Capital LLP are authorised and regulated by the Financial Conduct Authority.
About St Congar Properties Ltd:St Congar Properties Limited was established in 2003 by Miff Chichester to run the acquisition and asset/development management of offices and mixed use development opportunities in London and The South East of England. Miff and Europa Capital previously co-operated in the acquisition, refurbishment, re-letting and sale in 2006 of 200,000 sq ft offices at Imperial Place, Borehamwood also for Europa Fund II.
Further information can be found at www.stcongar.com
About Salmon Harvester Properties LtdSalmon Harvester Properties Ltd is a joint venture between Salmon Developments plc and NFU Mutual Insurance Co Ltd established in 1994 and has a track record of development projects in all use classes throughout the UK.
Further information can be found at www.salmonproperty.com.