Regional REIT has sold the 58,167 sq ft Clearblue Innovation Centre in Bedford for £8.8m.
The sale price represents an 11.4% premium over the 30 June 2025 book value
A lease extension has been agreed with existing tenant SPD Development Company to September 2033, ahead of £0.7m of asset management works concluding in October, which will see the centre’s EPC rating improve from an F to a B.
Regional REIT said proceeds from the transaction would be used to reduce debt and further strengthen the company’s balance sheet.
Stephen Inglis, CEO of London & Scottish Property Investment Management, Regional REIT’s asset manager, said: “This disposal demonstrates the success of our active asset management strategy, delivering an 11.4% premium over book value and enhancing the quality of our portfolio.
“The improvements made to the Clearblue Innovation Centre, including a lease extension and EPC upgrade, have significantly increased its value. The proceeds will further strengthen our balance sheet and position us to continue creating value through disciplined capital allocation and selective asset sales.”
