Thu, 23 Feb 2012 | COMMERCIAL PROPERTY
A landmark office building in Southampton has gone up for sale.
The Andover Advertiser reports that the freehold of Skandia House is on the market for almost £30 million. The commercial property was purpose-built for financial services firm Skandia and has now been put up for sale at £28.5 million by owner, Legal & General.
The building was completed in 1990 and bought by Legal & General in 2009 for £21.3 million. Whoever buys the seven-storey property will be able to make around £2 million annually in rent, which equates to £19 per square foot. This should be secure for at least the next 15 years. Skandia Life Business Services, which rents the building, recently extended its tenancy of the offices, according to the report.
Property agents Jones Lang Lasalle have called Skandia House “one of Southampton’s finest office buildings”. If a sale is agreed it will be the biggest office deal Southampton has seen since the council purchased Guildhall Square for £25 million in April 2010.
Another big deal took place last year when Pall Europe bought Marine House in Portsmouth for around £20 million.
Operating internationally, the company offers the development, hosting, and maintenance of electronic document management software. The business provides maintenance contracts, licences, installation, and training for its software.
This well-established business excels in resin floor installation and repairs, alongside additional services like stainless steel drainage installations, catering to diverse sectors including engineering, aerospace, and healthcare across South West E...
The companies supply an array of gases to suit various applications, with the group’s offering comprising all types of argon, oxygen, acetylene, nitrogen, carbon dioxide, refrigerant gases, propane and butane.
LEASEHOLD
15
|
Sep
|
Mears Group acquires housing compliance firm in £9.5m deal | BUSINESS SALE
Pennington Choices Group Limited (PCL), a social housing com...
15
|
Sep
|
Future of Bristol sheet metal fabricator secured with acquisition | BUSINESS SALE
A longstanding sheet metal fabricator based in Bristol has b...
15
|
Sep
|
Materials handling firm acquires furniture skate manufacturer | BUSINESS SALE
BIL Group, a Wiltshire-based manufacturer of materials handl...
14
|
Sep
|
Norwich’s Royal Arcade up for sale for £1.25m | COMMERCIAL PROPERTY
The Royal Arcade shopping centre In Norwich is up for sale w...
26
|
Oct
|
Legal & General sells personal investing business to Fidelity | BUSINESS SALE
Legal & General Group has agreed the sale of its personal in...
30
|
Apr
|
Allianz announces home insurance deal with L&G | DIVISION SALE
Allianz has revealed that they're holding "exclusive ta...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.