The Arena, Stockley Park sells for £13.3m


Cube's fund, Picasso completed the sale of The Arena, Stockley Park to Orchard Street Capital for £13.3m representing a net initial yield of 6.2%.

The 65,824 sq. ft. property adjoins the renowned Stockley Park business park and provides a retail and leisure offering including a Virgin Athletic gym, Costa, WH Smith, Subway and Greggs. It also offers a 5,275 sq. ft. serviced office business.

Cube bought the property through Picasso in 2003 and embarked on a process of active asset management, weathering the market slump of 2008-12 and presenting an attractive and well-run asset to the market in Q1 2014. 95% of the income was renewed, let or reviewed since 2009. Cube also obtained planning consent for the development of an additional 22,380 sq. ft. of office space.

Cube's Jonathan Lawes comments: 'The Arena shows Cube's ability to manage a property throughout a property slump, maintaining 100% occupancy, a high standard of maintenance and having the awareness to bring it to market at the right time.'

Cortex Partners advised on the sale.

The Arena, Stockley Park

< Back to news

At Bath Road Studios in Bristol, Cube has created The Set - a hi-tech, design-led workspace club, in which you can develop ideas, progress projects and engage with other creative minds.

Ideas become reality through interaction and collaboration. They need to bounce off ...Read more…