TELECOMMUNICATIONS firm Vodafone has sold its Newbury campus – but it’s not going anywhere.
It has arranged long-term leases on four of the seven buildings at the site, in a deal arranged by law firm Osborne Clarke.
The seven properties have a net internal area of 486,810 sqft (45,226 sqm) and are set on 38 acres (15 hectares) of landscaped grounds. It has been home to the company since the early 21st century.
The campus, called The Connection, has purchased by clients of IQON Capital and Oval Real Estate with the intention of upgrading it into a world-class business and innovation campus.
The Osborne Clarke team that advised Vodafone included Corporate Real Estate Partner Alison Riddle and Associate Svetlana Kisyova; Legal Director Catherine Gunz and Associate Hayley Batki in Real Estate; Partner Tracey Wright and Associate Director Alex Makinson in Tax; Partner Mark Taylor, and Associate Director Georgina Graham in Commercial; and Partner Paul Killen and Associate Director Leanne Coates in Employment.
IQON Capital has closed the acquisition of The Connection business campus for Aljazira Capital, with Oval Real Estate acting as Asset and Development Manager.
Vodafone was advised on the transaction by Colliers, with Chris Lewis, Head of Office Investment and Rob Campkin, Head of Corporate Capital Solutions.
Addleshaw Goddard acted as legal advisers of the purchaser, while JLL acted as Debt Brokers and Savills as Technical Due Diligence Advisor in the transaction.
Osborne Clarke says it is a future-focused international legal practice with more than 900 talented lawyers and more than 270 expert partners based in 26 international locations around the world. It works in eight core sectors including Tech, Media and Comms and the Built Environment.
