French investor buys Columbia Threadneedle’s Watford office

Columbia Threadneedle Investments has sold a refurbished office building in Watford to French real estate investment company Corum. The 50,000 sq ft office block at 40 Clarendon Road has changed hands in £19.5m off-market deal. Columbia Threadneedle bought the facility in 2011 from Aviva Investors for £10m. The building, constructed in 1998, has recently undergone a refurbishment featuring remodelling and extension of the reception and creation of informal meeting areas. Current occupiers on site include Rontec, PwC and 15 Marketing, with asking rent in the building topping £37 per sq ft. Kimmre represented Columbia Threadneedle on the deal; Fineman Ross + Partners advised Corum. Bray Fox Smith, CBRE and Stimpsons are retained leasing agents on the scheme. See occupational sales comparables for Watford >>