ACTING for LPA Receivers the active Northampton and Milton Keynes based property consultancy TDB Real Estate have sold the iconic Riverside House office building fronting Bedford Road, Northampton for a figure in the order of £4.5m to the Northampton-based real estate investment and development business Barwood Capital.?
The building will be remembered by some as the headquarters facility originally for Rockware Glass, then followed by Scottish and Newcastle before their relocation.?
Being opposite the new £350m Northampton University Campus currently under construction, adjacent to Northampton General Hospital and within walking distance of the town centre, Barwood’s proposal is to refurbish the building throughout bringing it up to and beyond modern-day standards offering flexible accommodation with good motorway, town centre and rail links for occupiers. This building also offers one of the best car parking ratios of all office buildings in Northampton.
Chris Drummond, Director of TDB Real Estate, who negotiated the sale on behalf of the Receiver to Barwood Capital, said: “It was clear that the building was in need of major refurbishment in order to accommodate the demands and requirements of modern-day occupiers and Barwood Capital were very clearly able to identify the opportunity that owning this building could bring, given not only its close proximity to the university and hospital but also the diminishing availability of good-quality office stock in the Northampton market. It offered an opportunity to provide a product that occupiers both want, but above all, are proud to be associated with.”
For further information, contact Chris Drummond on 01604 604020 or