The Commercial Property team at BPE has advised Cheltenham and Hereford-based property development and investment company Boultbee Brooks Real Estate on the sale of The Lightbox Building in Woking for £7.5million. After successfully completing a renovation of the building and re-lettings to new tenants, Boultbee Brooks took the opportunity to sell the property to a family owned investment company, which has a diverse and global property investment portfolio across a range of countries and sectors.
The Lightbox gallery and museum in Woking is one of the most exciting cultural spaces in the South East. Three stunning galleries host a huge range of exhibitions, changing regularly.
The Lightbox was designed in 2007 by Marks Barfield architects who also built the London Eye, the treetop walkway at Kew Gardens, and a new ground-breaking attraction, the Brighton i360 observation tower.
The building was purpose built to be a physically accessible space and it has level access, two accessible toilets and a lift that goes to all floors of the building.
Commercial Property Partner, Doug Armstrong, with support from Solicitor Natalie Hopkins and Paralegal Eleanor Gobey, led in advising the long-standing client on the sale of the multi-let office accommodation, compiling property and tenant due diligence to satisfy both the buyer and their lender, as well as negotiating the sale contract which included an escrow for vacant units alongside deeds of assignment for rental deposits and construction documents and warranties.
BPE has been acting for Boultbee Brooks since 2014, overseeing property acquisitions, investments, leases and disposals. Most recently, Doug and the team advised on the letting of office space to Gorilla TV.
Doug said: “It was a pleasure to work with the team at Boultbee Brooks again. Having worked with Clive Boultbee-Brooks and his team for over a decade, it’s been great to see the property portfolio grow and vary so successfully”.