INDUSTRY NEWS

5.5 million for Stratford offices

Solar House in East London has been sold for £5.5 million to an unnamed investor according to a London office space website.

The 49,000 sq. ft. of office buildings on Romford Road close to Olympic Park, was sold by investment company O Twelve.

The building itself  is reportedly 80 per cent vacant due to lease expiries but boasts a 93 space car park and is made up of a modern six-story office building dating back to the 1980’s.

Commenting on the sale, Phil Rhodes, Chairman of O Twelve said: “The sale of Solar House both removes a substantial potential cost exposure and adds to the Company’s now significant cash resources. This provides us with a number of opportunities both to continue to add value to the existing portfolio through active management and to consider new property ventures.”

Commercial property news brought to you direct from DeVono Cresa, experts on London office space.