A MAJOR £40.6million investment has seen banking giants BLME buy out a significant landmark office building in Warrington.
Bank of London and The Middle East plc (BLME) have taken occupancy over the National Crime Agency headquarters based on Longbarn Boulevard.
The transaction highlights the increased market interest in workspaces outside of the capital and has been described as ‘a further vote of confidence in northern commercial property’.
Constructed back in the year 2000, all 136,444 square feet of office space is now let out to the Government on a long lease and includes generous parking facilities for staff, of up to 501 spaces.
The investment was backed by London-based marketing consultants, Darin Partners Ltd.
David Bell, CEO of Darin Partners, said:
“Darin Partners is incredibly pleased to have completed the acquisition of 100 Longbarn Boulevard in Warrington with BLME.
“This is the fourth UK acquisition we have completed together which provides investors with long, stable, index linked Government income.
“What stood out to us on NCA Warrington, was the tenant’s requirement to work from a secure office environment, ensuring their commitment to the office campus.”
Now ranked in the top 20 places for high growth tech businesses, Warrington has seen more than £2billion worth of property investment grow throughout the town since 1990.
Ashish Mehta, director of real estate Investments at BLME, said: “The acquisition of 100 Longbarn Boulevard is a further vote of confidence in northern commercial property.
“This is a compelling investment and aligned with our investment strategy of acquiring income generating assets with index linked rent reviews.
“The asset is backed by a strong tenant, and we are encouraged by their commitment to the building and the location.”
Andy Thomson, head of real estate at BLME, added: “BLME has a well-established reputation for Real Estate finance and investment in the UK.
“BLME sources and co-invests in commercial real estate opportunities alongside professional investors from the Middle East region.
“We are adding the National Crime Agency property to our portfolio, and we are now actively seeking our next investment.”