The Arora Group has exchanged contracts for the sale of WBC4, an office building at Heathrow, to Spelthorne Borough Council for £47.25 million.
WBC4, part of the World Business Centre, is the first new stand-alone office building to be developed in the Heathrow Airport area in a decade. It was delivered by Arora Group’s Grove Developments.
Surinder Arora, Founder and Chairman of the Arora Group said: “We have a long history of engagement in Heathrow Airport’s World Business Centre estate and it is hugely satisfying to see WBC 4 through from inception to development and sale. The disposal reflects our strategy to strengthen our portfolio by focusing on assets where we have identified the optimum fit for leveraging our Group capabilities, with the development showcasing the skill and dedication of our Grove Developments team.”
Cllr Ian Harvey, leader of Spelthorne Borough Council, commented: “The acquisition of WBC4 forms part of our ongoing strategy to mitigate the withdrawal of Government funding for local authorities. As the newest stand-alone office development in the prime Heathrow area, we are delighted with this investment and the income it will generate, to support services for residents in our borough. Arora Group’s Grove Developments team has been a pleasure to deal with, ensuring the development’s construction is in line with the requirements of the incoming secured tenant, Amadeus.”