Strutt & Parker has sold an 81,470 sq ft headquarters building at Oxford Business Park to the Charles Street Buildings Group (CSB) on behalf of global property group Goodman.

The Grade A property was constructed as a pre-let for GB Gas Holdings Limited, a Centrica plc group company. GB Gas Holdings Limited hold a 17 year lease from October 2012 with a tenant’s option to break in 2027. CSB has purchased the building, designed by Frank Shaw Architects for £29,100,000 million, reflecting a net initial yield of 5.95%.

A lack of supply in the region and Oxford Business Park’s appeal to investors, due to its proximity to Oxford city centre, meant that a particularly strong price was achieved.

The eco credentials of the building were an important factor in the sale; the building has an EPC “A” rating and a BREEAM rating of excellent. It represents a welcome addition to CSB’s portfolio and stands alongside CSB’s acquisitions at Trinity House, Nottingham which is let to E.On UK plc and the Environment Agency headquarters at Horizon House, Bristol.