Friday, September 07, 2007

Thames Water Completes £43 Million Sale Leaseback of UK Headquarters

Evening Post - September 5, 2007

Thames Water, the UK’s biggest water company, has agreed to a £43 million sale leaseback of it's landmark circular headquarters building on the banks of the River Thames. It is the first of a series of sales expected as Thames Water – under new ownership – carries out a review of all its Reading offices.

But the company is staying put at Clearwater Court, leasing back the building for £2 million a year on a 25-year lease. It is now owned by Standard Life Investment Funds Limited and estate agent Strutt & Parker acted for Thames Water.

The crescent-shaped concrete building with twin glass-clad spiral stairways has been the headquarters of Thames Water for the past seven years. It has 8,273.5 sq m of luxurious office accommodation with a central courtyard overlooking the river on Reading Bridge.

Strutt & Parker to dispose of the freehold of all our Reading offices with a long term lease back arrangement for Clearwater Court and other properties.” Thames Water has 4,000 employees and 13 million customers across London and the South East. It owns 20,000 acres over 5,000 sites. Sphere: Related Content

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