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FRP Advisory LLP facilitates sale of £5.5m serviced offices portfolio to Pure Offices

4 October 2010

Joint Administrators, Geoff Rowley and Phil Armstrong, of specialist restructuring, recovery and insolvency firm, FRP Advisory, are pleased to announce the successful sale of the ESS serviced offices portfolio, with offices in Oxford, Welwyn Garden City and Farnborough, to Highcross serviced office business, Pure Offices, in a £5.5m deal.

Geoff Rowley said: "During the course of the administrations, we were able to continue to successfully operate the centres and we’re delighted to have concluded the sale of the properties to Pure Office."

Pure Offices Managing Director, Nick Smith, added: "This purchase adds three properties with huge potential to the two large Kestrel Court buildings we bought in January and the two centres we built ourselves at Swindon and Leamington last year. They’re in great locations and fit in well with our other properties."

The three buildings, which are 50% occupied and total around 55,000 square feet, will be refurbished and upgraded by Pure to fit in with the high quality of its existing portfolio.

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