CarVal Investors & Chester Properties have secured Suntory Beverage, the Japanese owner of drinks brands Lucozade & Ribena, for 36,000 sq ft of offices at 2 Longwalk, Stockley Park

The circa 50,000 sq ft property was bought with vacant possession in 2012 and subsequently comprehensively refurbished.

 

 

Last year, CarVal Investors & chester Properties acquired three additional office properties in Stockley Park totalling circa 120,000 sq ft.

Details of the rent have not been disclosed but market sources this week suggested Suntory is paying upwards of the £29.50 per sq ft Rocket Software recently paid when signing for space at 4 The Square at the park.

Suntory Beverage & Food Ltd recently announced its acquisition of the Lucozade & Ribena brands from GSK for £1.5 billion.

Lucozade is number one in the UK energy/sports drinks market & Ribena is number four in the UK fruit juice/concentrate market. The two brands are moving from their former home in Brentford.

CarVal Investors & Chester properties were advised by Cushman & Wakefield & Jones Lang Lasalle. Suntory was advised by Savills.

CarVal Investors was founded in 1987 by venture capitalist Cargill as an arm of its proprietary trading operation. In 2006 it became an independent subsidiary of Cargill. According to its website it has over $9bn in assets under management in both credit and real estate strategies.

It has been particulary active in the South East market recently, where it has tied up on several occasions with development manger Chester.

Stockley Park, which offers 2m sq ft of offices within a short distance of Heathrow airport, now has a vacancy rate of 9.2%, its lowest in several years.