Sale of St George's House in Brighton
The RO is pleased to announce the disposal of St George’s House in Brighton to Bravo Property Limited (“Bravo”) for £1.2 million. Bravo is a well-financed and respected local residential and student property developer and is well-known to RO’s local agent, Graves Jenkins.
During the last couple of years, in line with its stated growth strategy, the RO has disposed of a range of property assets for a combined total in excess of £25 million, which has prudently been re-invested in existing and new properties, development projects, and strategic land acquisitions across its preferred geographic region of the South of England and Oxford-Milton Keynes-Cambridge (‘CaMkOx’) Arc, which the RO consider to be areas providing key future growth for the UK’s economy.
David Kershaw, Group Real Estate Director, RO Real Estate said:
This has been a very active and productive time for the RO. We consider very carefully the timing of our acquisitions and disposals and we are extremely pleased with the sale of St George’s House to Bravo, which provides further capital for us to reinvest in expanding our portfolio.
We have also recently invested further in existing assets which are best placed to take advantage of regional growth drivers. These include Silbury House in Milton Keynes; our flagship Dakota building, located in Weybridge, Surrey, which was recently confirmed as the first multi-tenanted building in Europe to receive Fitwel certification; and One Dorset Street in Southampton, which has also received Fitwel certification – the first building in Hampshire to do so.
We will continue to invest in our existing portfolio as well as seeking new acquisition opportunities that fit our strict strategic and geographic criteria.