22 July 2021
Telereal Trillium has completed the purchase of Marlborough House in St Albans from BMO Capital for £7.9M.
Situated in a prominent position on Upper Marlborough Road in St Albans city centre, Marlborough House comprises approximately 45,000 sq. ft. of office space currently fully let to the multinational engineering and infrastructure firm AECOM.
Marketed by Savills, the 1960s building and associated 75 car parking spaces occupy an 0.82 acre site in the heart of St Albans. The existing office accommodation is spread over two separate, adjoining blocks, but there is significant scope for a comprehensive refurbishment or redevelopment to maximise the potential of one of the City’s most advantageous central locations.
Telereal Trillium’s acquisition of Marlborough House underlines the company’s appetite to acquire well-located, strategic sites with development potential, as well as continuing to progress development opportunities within its significant existing portfolio.
Commenting on the acquisition, Duncan Brisbane, Development Director at Telereal Trillium, said: “St Albans is widely recognised as a highly desirable place to live and work with excellent transport connections to London and elsewhere. We believe Marlborough House represents an exciting opportunity for our team to ensure this prime city centre site is regenerated and continues to make a positive contribution to day-to-day life in St Albans.”
Telereal Trillium was advised on the transaction by Finn & Co and the law firm Reed Smith.