Find in the news:
BY COUNTRY

CBXII in Milton Keynes Sold to Blackrock



The CBXII office and retail complex in Milton Keynes has just changed hands in a deal worth £35 million ($44.7 million).
The previous owner, UK private equity real estate fund controller Benson Elliot, has sold it on to Blackrock with an initial net yield of 7%, following refurbishment work they have carried out since buying the property in 2010.  

Offices in UKThe complex at CBXII is part of the popular Central Business Exchange complex and is strategically located in the Central Milton Keynes Business District. Sitting on the Midsummer Boulevard, it is next to the Central Milton Keynes Shopping Centre and The Hub. Its central location also means that it is right next to a number of top hotels and restaurants.  The CBXII is split over 3 buildings and 2 wings.

Benson Elliot acquired the property back in 2010 and set out to improve it in a number of ways; upgraded office space, a better mix of tenants and higher retail levels. The firm has gathered more than £1billion ($1.2 billion) in office and retail property investments across the regions of the UK since then, as it follows a strategy known as “Reach for the Regions”.

Office Space Now 80% Let
The refurbishment carried out in the complex cost £4.2 million ($5.3 million) and accounted for the office space in CBXII being fully modernized across the complex. The work carried out there also created brand new retail space and improved the reception zone as well as the common areas. The demand in Milton Keynes for high quality office rentals means that it is now 80% let.

Marc Mogull is a Managing Partner at Benson Elliot and he commented that the difference between yields in London and the rest of the country was “getting too wide to be justified by fundamentals”. He also pointed out that it is easy to forget that not a lot of new building stock has been delivered outside of the UK capital in recent times. 

James Jakeman is a Principal at Benson Elliot. He confirmed that the complex was the firm’s first UK investment and that it has been a “great success for our investors”. He stated that the performance and return on the property have “validated our thesis “of looking for a return on high quality rental accommodation in the UK’s regions. He said that the time is now right to “release the value created” by the work they have carried out at CBXII.


More about shopping malls in the United Kingdom



Jun 1, 2022, United Kingdom:
The concept store is part of the Livat Hammersmith shopping and entertainment center in London.
May 19, 2022, South Korea:
Hyundai Seoul got a central atrium with a 12-meter waterfall and natural lighting.
May 12, 2022, Malaysia:
The complex is home to more than 200 tenants selling authentic local goods.
Apr 29, 2022, Europe, Europe:
The store sells streetwear created in collaboration with designers such as Soho Grit, Alma de Ace, BAPE, Herschel, and Staple.
Apr 28, 2022, USA:
Nike and RTFKT have announced a new collection of Nike Dunk Genesis Cryptokicks sneakers.
Apr 27, 2022, USA:
Meta Store has the intention of demonstrating the possibilities of virtual reality devices, as well as dispelling the mystery around the concept of the math universe.
Friend
and Follow
Hillcrest Mall GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest Mall
Designer Outlet Malaga GLA:322 917 SF
ADDRESS: 29004, Málaga, Spain
Spain . Malaga
Designer Outlet Malaga
Shopping City Süd GLA:1 862 156 SF
ADDRESS: Europaring 2334 Vösendorf
Austria . Vienna
Shopping City Süd
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us