Martin’s Properties has acquired two adjacent freehold sites off the Botley Road in Oxford from Stark Group for £5.45m.
The sites, which have a combined footprint of 5.6 acres, were formerly occupied by Jewson and currently house 31,000 sq ft of vacant office and industrial space.
Brook Stotesbury, head of asset management and investment at Martin’s Properties, said: “The Botley Road sites opens up a number of development and repositioning opportunities for a variety of uses, which we are currently exploring in further detail, using our in-house development and asset management teams. We look forward to progressing plans for this site.”
Richard Bourne, CEO of Martin’s Properties, added: “This transaction is the latest in a number of acquisitions completed this year as we continue to add to our investment, development and self-storage portfolio. Following the sale of several non-core assets this year, we have over £30m of capital to deploy for investment and repositioning opportunities in Chelsea and Southern England. As an agile, family-run business, we are in a strong position to act quickly on acquisitions, using our in-house capabilities to help identify opportunities, structure deals right from the beginning and bring them to fruition.”
