Joint Administrators, Geoff Rowley and Phil Armstrong, of specialist restructuring, recovery and insolvency firm, FRP Advisory, are pleased to announce the successful sale of the ESS serviced offices portfolio, with offices in Oxford, Welwyn Garden City and Farnborough, to Highcross serviced office business, Pure Offices, in a £5.5m deal.
Geoff Rowley said: “During the course of the administrations, we were able to continue to successfully operate the centres and we’re delighted to have concluded the sale of the properties to Pure Office.”
Pure Offices Managing Director, Nick Smith, added: “This purchase adds three properties with huge potential to the two large Kestrel Court buildings we bought in January and the two centres we built ourselves at Swindon and Leamington last year. They’re in great locations and fit in well with our other properties.”
The three buildings, which are 50% occupied and total around 55,000 square feet, will be refurbished and upgraded by Pure to fit in with the high quality of its existing portfolio.
For further information about Pure Offices, visit pureoffices.co.uk/.
Press contact for FRP Advisory:
Georgina Swain, FRP Advisory - Press Office
T: +44 (0)207467 4297 / M: +44 (0)7881 523 345 / E: georgina.swain[.]frpadvisory.com
About FRP Advisory
FRP Advisory, LLP (frpadvisory.com) is focused on creating, preserving and recovering value for its clients.
The firm offers a comprehensive suite of services to the mid-market and financial community. These focus on enhancing the performance of businesses, as well as saving businesses in distress.
Services include: commercial & asset finance, corporate insolvency, restructuring, independent business reviews, interim management & placement services, personal insolvency & advisory, creditor services, insolvency investigation services and banking live-side support.
With 28 partners and 200 staff, FRP Advisory is one of the largest restructuring, recovery and insolvency firms in the UK, operating out of 9 regions including: East Midlands, Eastern Region, Kent, London, North East, North West, St Albans, Sussex and West Midlands.