Praxis, the UK value-add investor, has concluded a further two office investments this year in Hook and Newcastle respectively. In separate deals, Bartley Wood has been acquired for £17.50M from Kennedy Wilson and St James’s Place in Newcastle city centre was secured for £7.40M from Aviva.
These latest deals have seen Praxis deploy in excess of £100M into the regional office market in the past 18 months with a further £75M of live deals currently in solicitors hands.
Charlie Arden, Investment Manager at Praxis said:
“This latest vintage of assets all come with a significant capital investment programme allowing us to deliver ESG compliant best in class space to the market.
With headlines focused on the death of the office we are pleased to have over 100,000 sq ft of new office lettings in solicitors hands across the UK. Much of this interest is for space that has sat vacant for years prior to our ownership. The focus now is to continue to position ourselves as the buyer of choice for those reducing their exposure to the office sector”
Praxis was advised by DTRE and Avison Young.
