Northampton developers have bought ‘iconic’ office building hosting council staff for £4.5 million.
Barwood Capital, the Northampton-based investment and development business has recently purchased Riverside House - a 60,000 sq ft iconic office building, which plays host to Northamptonshire County Council staff - for £4.5 million.
The five-story office building set on the Bedford Road, also plays host to tenants including Capita, and the Northampton Renal Dialysis Unit.
Danielle Sheppard, associate investment director, Barwood Capital said: “Northampton is a vibrant town which is attracting a considerable amount of inward investment including the new railway station, new University campus and the new Northamptonshire County Council headquarters in the town centre.
“We can see huge potential to refurbish Riverside House to bring it up to modern standards for the benefit of the current and future tenants. All the fundamentals are there in terms of flexible accommodation, its location with links to the rail and motorway networks and its excellent parking ratio.
The area, which is currently undergoing a regeneration including the new £350 million Northampton University campus, is due to open in September 2018.
She adds: “Currently we are exploring opportunities that owning a building close to both the hospital and university might bring. It’s great to be investing in our hometown and we continue to seek such on and off market assets across the UK’s regional property market.”