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



YESTERDAY, USA:
Stüssy is preparing to launch the new archive store in Brooklyn, New York, for one month.
DAY BEFORE YESTERDAY:
Located on Broadwick Street in Soho, London.
May 22, 2024, USA:
Luxury fashion house Balenciaga inaugurated its first standalone store in Chicago, Illinois.
May 21, 2024, France:
Some fashion brands are opting to hold their showroom presentations in Milan this season due to logistical challenges posed by the Olympics.
May 20, 2024:
The collection follows the recent launch of Zara's 'Timelesz' line and represents another step in enhancing its kids' division.
May 17, 2024:
David Beckham has signed a multi-year design deal with Hugo Boss
Friend
and Follow
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Ontario Mills GLA:1 473 000 SF
ADDRESS: 1 Mills Cir, Ontario, CA 91764-5207
USA . Ontario
Ontario Mills
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali


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