The London Borough of Sutton has sold Oxfam’s UK headquarters building in Oxford to a private investor for £37.1m in a deal representing a net initial yield of 4.25%.
The 87,000 sq ft Oxfam House building at 2700 Oxford Business Park was originally acquired by Sutton Council in 2016 and has served as Oxfam’s UK HQ since 2005.
The charity’s lease on the building is due to expire in March 2025 and the 4-acre site offers repositioning and development potential given Oxford’s growing status as a major UK life sciences hub.
Andrew Groves, commercial managing partner at Bidwells, which represented the private investor on the purchase, said: “Our client’s successful acquisition of 2700 Oxford Business Park represents their commitment to, and belief in, the future growth expectations of the Oxford ecosystem.”
Charlie Lake, director at LSH, which represented the London Borough of Sutton on the sale, added: “Despite challenging marketing conditions, the sale of Building 2700 emphasises the strong demand that continues to exist for office refurbishment and repositioning opportunities in the tightly constrained Oxford market.”
