French investor Corum has acquired the 61,000 square-foot Florence Building for £22 million from LGIM.
The office, completed in 2018, is based on Basing View, a 65-acre business park situated in the heart of Basingstoke, a short walk from the railway station and town centre.
LGIM Real Assets purchased the building from Abstract Securities in 2019 after Abstract had leased it to Sovereign Housing Association. Sovereign continue to lease the building with 16 years of secure retail price index-linked income. Legal and General brought the building on behalf of its LPI income fund.
Sovereign Housing Association is one of the largest housing associations in the UK. In recent years, Corum has been one of the most active buyers of regional UK offices.