RREEF has acquired 1 Longwalk Road at Stockley Park, the home of Celgene. DTZ advised RREEF Spezial Invest GmbH on the £26.4 million acquisition.
The price achieved is reflective of the covenant strength and prime location within one of Europe’s leading business parks, says DTZ. The prime grade A 75,000 sqft office property has recently undergone an £8 million refurbishment. It was pre-let in its entirety to Celgene Europe Ltd in June 2010.
CB Richard Ellis Strategic Partners UK II Ltd, represented by Savills, sold the property.