Industrial developer Goya and its US investment partner Hillwood have bought part of the Guildford Business Park offices campus from Pinebridge Benson Elliot for redevelopment as an industrial scheme.
Guildford Business Park is a 14-acre office park, comprising 287,176 square feet over five office buildings, on the edge of the town centre. The town is a well-known cluster for gaming companies, and has direct train access to London via a 30 minute journey. Adjacent to the office park is the University of Surrey.
Joint venture partners Goya and Hillwood have been busily snapping up sites for more than £200 million of speculative industrial development in the UK recently.
PineBridge Benson Elliot went to market via JLL in 2021 seeking to sell the entire park for more than £111 million. It is understood that it has sold Building 4, a vacant building on the principally occupied estate, with consent for a 72,000-square-foot industrial development. On LinkedIn Goya and Hillwood said they were planning a £35 million gross development value scheme.
In 2022, Starz Real Estate provided a £77 million senior facility to PineBridge Benson Elliot for the refinancing and part re-development of Guildford Business Park.
JLL advised PineBridge Benson Elliot. Hurst Warne advised on the acquisition.