A Joint Venture between Sixth Street, a leading global investment firm, and Henley Investments, a leading private equity real estate firm based in London, has completed the purchase of New Square, Bedfont Lakes in Feltham, West London.
The joint venture delivered a timely, fully committed solution to the previous owner.
Comprising eight buildings across 374,000 sq ft, Bedfont Lakes is located just one mile from Heathrow Airport and boasts access to central London in c.30 minutes. The office park has a solid existing tenant mix including global, blue chip corporate and government occupiers. The park includes one of the highest car parking ratios in its market as well as great access to local infrastructure. The joint venture plans to invest in the business park to add amenities and enhance the attractiveness of the park for current and future occupiers.
Justin Meissel, CIO and Managing Director Europe of Henley, says:
”We are excited to have partnered with Sixth Street’s London based real estate team on this fast-moving transaction. This purchase demonstrates Henley’s ability to identify potential within high quality, well located assets, and develop forward-thinking business plans to enhance properties for the modern, post-COVID occupier. Offices will continue to evolve, and fit-for-purpose assets and locations such as Bedfont Lakes will, when properly positioned, remain attractive to top quality tenants. Our team is looking forward to working with the occupiers to deliver a best-in-class office environment. We are actively evaluating other such investment opportunities where we can offer sellers transactional speed and execution certainty.
The Bedfont Lakes acquisition sits within Henley’s operational joint venture with Colmore Capital, who will support the execution of the business plan for the property.
Jones Day, Ropes & Gray and Savills acted on behalf of the joint venture.