The RO invest in Southampton for the third time in 18 months

Acquisition of 1 Dorset Street for £5.2 million

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The RO is pleased to announce that they have completed the purchase of 1 Dorset Street in Southampton from Aberdeen Standard Investments for £5.2 million.  This brings RO’s total of sales and acquisitions to in excess of £60 million over the last 15 months.

This is the third major acquisition the RO has made in Southampton, bringing its total investment in the City to over £16 million, following the purchase last year of Waterside Place, located on the marina and a short walk from West Quay, acquired for £7.6 million; and West Park House which the RO purchased from Lanyon Quay Ltd for £4 million in April. All acquisitions were made through the RO’s wholly owned subsidiary RO Real Estate, which acquires and develops commercial property assets on behalf of the Group.

1 Dorset Street is a prominently located and prestigious office building within central Southampton.  The property was constructed in 2006, which makes it one of the newest office buildings in a City with diminishing levels of Grade A supply.  The property is located in the established central business district, within close proximity of both the prime retail shopping area of West Quay and half a mile from the station. RO intend to extensively refurbish the ground, first and second floors over the coming months, following vacation by Grant Thornton, whilst the remaining third floor is shared by Santander and Michael Page.

The RO were advised by Acre Capital Real Estate who managed to secure the property off market.  This property is complementary to RO’s existing assets in the City and consolidates its investment in the Southampton office market.

Commenting on the acquisition David Kershaw, General Manager, RO Real Estate said:

Southampton shows a high demand for well-located, high quality office space coupled with very low availability and the RO hopes that this property will fill the gap in this important shortage of high-end office space. We will be improving the vacant space within this modern building and look forward to welcoming new tenants to this prominent and desirable location.
RO Real Estate 020 7025 1780 [email protected]
John West Belvedere Communications 020 3735 8896 [email protected]

RO Real Estate and its various sister companies are wholly owned subsidiaries of the RO which is a family owned group of companies established in 1932.  The RO has always invested in a diverse range of interests which today embraces commercial property, housebuilding, holiday lodges and financial services.

RO Real Estate, the commercial property division, has built over 1.1 million sq ft to date and currently manages c700,000 sq ft of office, industrial, retail and hotel accommodation.  All acquisitions are funded through its existing cash resources, meaning that it is able to move quickly if the appropriate investment criteria are met.

RO’s housebuilder, Metis Homes, builds modern homes with traditional values and has created a diverse portfolio of bespoke, high quality homes in prime locations – from traditional properties in rural settings to contemporary town centre schemes. 

In 2017, Metis’ achievements were recognised at the What House Awards, acknowledged by the industry as ’the housebuilding Oscars’, where they were presented with the Gold Award for Best Small Housebuilder.

RO Real Estate website