Pinetrees, Staines-upon-Thames
BNP Paribas Real Estate helped Aberdeen Standard Investments develop a bespoke disposal strategy for Pinetrees, Staines-upon-Thames, a business park comprising three self-contained and two conjoined office buildings.
The challenge
Although the majority of the park was let to Bupa Insurance Services, there was a vacancy comprising 59,000 sq ft of refurbished office accommodation in a single self-contained building. With the political and economic climate causing many investors to adopt a more risk-averse acquisition strategy, a narrow market was anticipated.
The solution
We identified a special purchaser and undertook a targeted, off-market transaction, limiting market exposure and maximising returns for the client, with a sale price of £80.7 million. The purchaser, Runnymede Borough Council, subsequently retained BNP Paribas Real Estate as the leasing agents.
“We were approached to provide a bespoke disposal strategy for this premier South East business park, with emphasis on the careful consideration of the occupational profile of the asset.“