Commercial property

Commercial property in centre of Swindon sold for £1.2 million

Written by Peter Davison on .

College Court

 

A commercial property in the centre of Swindon has been sold to investors for £1.2 million.

The College Court development at Regent Circus was offered at a London auction with a guide price of £1 million.

It was sold by Kavanaghs through leading London agent Allsop.

College Court comprises of Imperial, Trinity, and Oxford Houses, which are let to Advance Insurance Agencies and Allen & Harris respectively at a combined income of £154,000 a year.

Stephen Brickell, commercial property manager at Kavanaghs, said: "We are delighted to have sold College Court with our long standing colleague, Duncan Moir of Allsop.

"We set an initial guide of £1 million and were very pleased with the large amount of interest we received in the property.

"After numerous viewings there were six bidders and I am pleased to report that the property was sold for £1.21 million."

Duncan Moir of Allsop commented: “It is always a delight to work with Stephen and to have achieved such a successful outcome for our client.

"There remains very good appetite in the market for sold investments with either enhancement at the reversion or solid income.

"Working proactively for our client hand in glove with Stephen has been a joy who is one of the most effective and proactive agents in the South and South West.”

Kavanaghs will continue to act as the managing agent for the site for the new owners.