Endeavour House, Langford Business Park, Oxford

11/09/2006

AbD Serotec a leading manufacturer of antibodies based in Oxford has now acquired a further 23,470 ft ² of office and storage accommodation on the Langford Business Park.

Endeavour House, which was developed by Langford Developments, is designed with ground and two upper floors providing "grade A" office accommodation within a landscaped setting just off the Banbury Road to the north of Oxford.

Serotec has taken a 15 year full repairing lease at an initial rent of £485,185 pa exclusive.  The lease has a 10 year break clause and the tenants will enjoy a 14 month rent holiday.

With the rent of the office space equating to £22 ft ², a sale of the investment has been agreed with Cheval at a yield of 5.75%, a consideration of £8.4 million.

Langford Developments is also offering Beaumont House a 10,000 ft ² office building and has land capable of supporting a further 60,000 ft ².

Aitchison Raffety and King Sturge acted for Langford and are marketing the remaining space.

For further information contact Bruce Raybould, Commercial Agency Manager, on 01865 865658