Fri, 25 Nov 2016 | COMMERCIAL PROPERTY
Global oil and gas firm ExxonMobil is to put its headquarters campus building in south-east England up for sale for £51 million.
According to CoStar, the commercial property information company, ExxonMobil has appointed CBRE to market the 185,000 square foot Ermyn House campus in Leatherhead, Surrey.
It is reported that ExxonMobil, the world’s largest publicly traded oil and gas company, wants to do a sale-and-leaseback on the site.
The campus covers 21.4 acres and its asking price represents a net initial yield of 6.81 per cent. There are also potential development opportunities at the site, including residential potential.
ExxonMobil is not the only south-east occupier eyeing property sales. Earlier this month it was reported that pharmaceutical firm GlaxoSmithKline had appointed Cushman & Wakefield for a £95 million sale-and-leaseback of its three-building, 300,000 square foot site at Stockley Park West in Uxbridge.
The campus is understood to be drawing strong interest from private equity as well as local authority buyers, CoStar said.
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