GENSOCIAL
Hillview Real Estate has acquired two out-of-town office investments for £18.2 million for a new £300 million UK regional office fund.
The company has bought the 1320 building, on Birmingham Business Park in Solihull, and Belfry Business Park, in Watford, marking the second and third investments for its Hillview Partners Property Fund III.
1320 Birmingham Business Park comprises a 26,374 sq ft building fully let to two tenants, BCA Logistics and Vector GB.
The first acquisition by the fund, which was launched last summer, was Kings Court which is also on the 148-acre Birmingham Business Park and comprises three adjacent office buildings, acquired for £9.7 million.
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Belfry Business Park comprises the freehold interest in five buildings on Colonial Way, a major industrial and office location on the edge of Watford.
One of the five buildings has been sold on a 999-year lease to Majestic Wines.
The remaining buildings have a total area of 43,245 sq ft and are let to six tenants, including HSBC, Handelsbanken and RX Systems.
Managing director of Hillview Group Nadav Livni said: “These two investments are excellent acquisitions for our new fund.
“Both provide stable income and opportunities for our team to significantly add value from enhancing amenities, lease events, refurbishment of units and regearing leases.”
