Colliers, on behalf of Boundary Real Estate Partners, has acquired Hays House in Guildford town centre. The property was bought at the end of last year from Threadneedle for £7.875 million.
Providing 18,428 sq ft of space across ground and two upper floors, the property has undergone a series of refurbishments. Fully let to five tenants, Hays House has a WAULT of 5.7 years and recently set a new rental tone of £36 per sq ft.
The property benefits from a prominent location five minutes from the mainline rail station, two minutes from Guildford High Street and opposite the 300,000 sq ft Native Land development which was recently granted planning permission. This project will turn the town’s former Debenhams into a mixed-use destination with retail, restaurant and residential space alongside a new riverside public realm.
Chris Lewis, head of office investment in the National Capital Markets team at Colliers, comments: “Hays House offers significant reversionary potential whilst benefitting from being fully let to a range of strong tenants, making it an attractive proposition for our clients. The town centre office market in Guildford continues to be one of the strongest in the south east from both an investment and occupational perspective, with rental growth potential and a growing cluster of industries including blue chip, legal and the new names in gaming.”
Acre advised Threadneedle.