The Burrows Building
Shenfield
- 15,933 sq ft
1,480 sq m - Offices
- Young & Rubicam Holdings (UK) Ltd
Location
Located in Shenfield, a popular commuter town in Essex, the property was acquired in May 2014.
Description
The property was let in its entirety to Young and Rubicam (a subsidiary of WPP Plc, the world’s leading marketing communications agency) until 2020.
Asset Management and Sale
Tellon identified the significant redevelopment / change of use potential of the property due to its proximity to Shenfield station and the arrival of Crossrail in 2017/2018 which will provide regular access to central London within 45 minutes. A substantial uplift was secured at review in August 2015 alongside an extension of the tenant’s lease until December 2026, with a further upwards only review in December 2021.
The property was subsequently sold with the benefit of the increased rent and extended lease term providing a significant uplift in value.
