RO Group has sold 56 Clarendon Road in Watford to Strides Pharma UK for an undisclosed price.
The UK arm of global pharmaceutical company Strides Pharma Science intends to use the site as its new UK headquarters.
RO acquired the property in 2014 and intends to recycle capital from the sale into roadside and industrial assets located across the Midlands and the South of England.
Nick Cashmore, investment director at RO Real Estate, said: “We are delighted to announce the sale of 56 Clarendon Road to Strides Pharma, a multinational pharmaceutical company, and to see the building become its new UK headquarters. The opportunistic sale represents a well-timed realisation with the sale price reflecting a 40% premium on the 2025 valuation.”
RO Group was advised by Brasier Freeth and Womble Bond Dickinson on the transaction.
