Green Park sale completes
Wed 18 May 2016, 3:56 pm
Oxford Properties Group (Oxford) has completed on the 100% sale of Green Park to the Singaporean-based firm, Mapletree Investments.
The group will continue to act as asset manager for the business park on behalf of the new owners until the end of 2016.
Green Park is set over 768,902sq m and includes 56,655sq m of office space across 19 buildings. An additional 3,440sq m of space is to be added to the site over time. More than 6,500 people work at the site.
Since Oxford’s acquisition in 2011, occupiers from the telecoms, technology, pharmaceuticals and healthcare sectors have moved in. The group has undertaken an asset management program and a five-building refurbishment program, which has facilitated new leases for companies including Quintiles, Huawei, PepsiCo, Thales and Bayer.
Oxford has executed over 3,030sq m of leasing activity, bringing occupancy to 93%.
Paul Brundage, executive vice president and senior managing director at Oxford, said: “Green Park is an exceptional asset and we are proud of the work the Oxford asset management team has done in improving occupancy, increasing rental rates and creating an engaging occupier experience.”