Iconic office block bought for Â£4.5 million by Northampton development firm
A Northampton-based investment firm has bought an iconic office block in the town for Â£4.5 million.
Barwood Capita has acquired Riverside House, a 60,000 sq ft building located on the Bedford Road from LPA receivers .
Current tenants include Capita, Northamptonshire County Council and the Northampton Renal Dialysis Unit. Riverside House is a five-storey building with two rectangular wings in an ‘L’ shape separated by a central service core.
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.
“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 home town and we continue to seek such on and off market assets across the UK’s regional property market.”