Joseph King Holdings sell Government let Norwich offices to funds managed by Equitix Investment Management Limited

28 September 2022

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Joseph King Holdings Limited, acting on behalf of Joseph King Properties Limited (the “Vendor”), has completed the sale of the freehold interest in Rosebery Court, St Andrews Business Park, Norwich (the “Property”) to funds managed by Equitix Investment Management Limited (“Equitix” or the “Purchaser”).

Rosebery Court is located at the heart of St Andrews Business Park, Norwich and provides 68,300 sq ft of modern office accommodation over three floors, together with 306 car parking spaces.

The principal tenant is The Secretary of State for Housing, Communities and Local Government who occupy the ground and second floors of the property under a 10-year lease due to expire in June 2029. The current leases in respect of the property benefit from a WAULT of 7.2 years to expiries and 3.2 years to breaks.

The vendor was represented by MP Real Estate and the purchaser by Cooke & Arkwright.  

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Cooke & Arkwright have been providing Newport City Council with rating advice for over 20 years. Andrew, Jane and Huw provide a personal and professional service and have an excellent knowledge of the Council’s assets which has enabled the Council to achieve substantial rate savings. A useful service offered is the status report which provides us with a snapshot of what appeals have been made and appeals outstanding throughout the life of the List. I would recommend Cooke & Arkwright Rating Services to any company wishing to procure up-to-date and professional rating advice.

Eirian Jones, Estates Team Leader, Newport Norse