Langstone Technology Park Added to AIMCo Clients' Foreign Real Estate Portfolios
Edmonton, Alberta (December 7, 2020) – Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, and XLB Property (XLB) have completed the acquisition of Langstone Technology Park from Angelo Gordon and Trinity IM. The former IBM campus in Havant, Hampshire includes 480,000 square feet of offices, labs and data centre on approximately 40 acres.
“At 40 acres in size and with fantastic connectivity to the motorway network, the acquisition of Langstone Technology Park offers an exciting opportunity to create a major commercial hub on the South Coast. We are very pleased to be working with XLB and look forward to bringing this project to fruition over the coming years,” said Rupert Wingfield, AIMCo’s Head of European Real Estate.
“The investment in Langstone Technology Park presents a great opportunity to deliver a new vision for this landmark site, centred around R&D, clean tech, logistics and employment uses. The park already provides a secure, managed environment for business with the added benefit of many on-site amenities. We look forward to working with AIMCo on this exciting project,” added XLB co-founder Tony Lawson.
Additional development on the site is expected to begin in 2021.
The vendor was advised by ACRE Capital Real Estate and BCM. Savills advised the purchaser.