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Marson buys Slough offices from XLB for resi conversion

September 2019 - Costar

Marson buys Slough offices from XLB for resi conversion
Demise of PDR ‘greatly overstated’

Marson Property has bought Abbey House, a 16,000 sq ft office close to Slough train station for conversion to residential.

The building has been sold by XLB Property. It sits on a 0.55 acre site and has prior approval for a change of use from B1 offices to C3 residential.

Duncan Campbell, director of Campbell Gordon, acting for Marson Property, said: “There has been a lot of talk about the demise of the ‘PD’ conversion market. It is overstated. There has absolutely been a significant price adjustment, but discerning buyers are still keen to acquire genuinely suitable buildings, in good locations, at a sensible price.

“Marson was able to outperform the competition to secure this asset due to speed and certainty of performance. This makes them an attractive buyer compared to other prospective purchasers at the same price point, particularly in these uncertain times. Indeed this is an interesting feature of the market at the moment. We are finding the quality of a buyer, and their funding positions, are making a fundamental difference between acquisition success and failure when sellers are selecting buyers of development opportunities.”

Campbell Gordon acted for Marson Properties. CBRE acted for XLB Property.