Cheltenham-based BPE Solicitors advised on the sale of a £7.5million office building.
BPE’s commercial real estate team advised property development and investment company Boultbee Brooks Real Estate on the sale of the Lightbox Building in Bracknell, Berkshire.
After successfully completing a renovation of the building and arranging re-lettings to new tenants, Boultbee Brooks seized the opportunity to sell the property to a family-owned investment company, which has a diversified and global real estate investment portfolio. in many countries and sectors.
Doug Armstrong, Commercial Real Estate Partnerwith support from attorney Natalie Hopkins and paralegal Eleanor Gobey, led the longtime client’s advice on the sale of the office building to multiple tenancies, compiling property and tenant due diligence to satisfy both the buyer and his lender.
In addition to negotiating the sales contract which included an escrow, or contractual agreement, for the vacant units, as well as deeds of assignment for the rental deposits and construction documents and warranties.
BPE has acted for Boultbee Brooks since 2014, overseeing acquisitions, investments, leases and disposals of buildings. More recently, Doug and his team advised Gorilla TV on office rentals.
Doug said: “Having worked with Clive Boultbee-Brooks and his team for over a decade, it’s great to see the real estate portfolio grow and vary so successfully.”