British Land buys Maidenhead property for £74m

29th Jun 2011 07:35

Property group British Land has acquired a prime Maidenhead property for £74m.The 198,000-square foot Grenfell Island property comprises of office space and leisure accomodation in an adjoining building anchored by an Odeon cinema and health club."Maidenhead is considered to be one of the strongest South East office markets, attracting major occupiers such as Adobe, GlaxoSmithKline and Johnson & Johnson, as well as Hutchinson 3G," the company said.Grenfell Island is currently let to telecoms and data services provider Hutchison 3G UK, as part of an unexpired lease term of 9.5 years. "The acquisition provides British Land with an attractive income return in an improving occupier market and fits well within our strategic priority of creating sustainable and growing property rental streams," said British Land's head of offices Tim Roberts.BC