LaSalle Investment Management has sold the offices home of Elekta in Crawley for £35 million in what is the largest transaction in the South East office market in 2025.
The sale of the 132,000-square-foot Cornerstone offices comes as best bids are being called for a £420 million portfolio that LaSalle is selling via JLL on behalf of the same mandate - Spanish bank Santander's defined pension scheme.
Cornerstone has been bought by an ultra high net worth investor client of Citi bank. At £35 million the deal is the largest this year in a disappointing few months for the South East office investment market. The sale was first reported by Green Street News.
CoStar News revealed last month that STR Capital Partners had bought Lotus Park in Staines from Legal & General for £32.5 million in what was then the largest office transaction in the South East this year.
The next largest sale in the South East this year is that of The Brinell Building in Brighton in March for £27 million.
JLL advised LaSalle Investment Management while Allsop advised Citi.
The sale of the asset has been pursued separately to a circa £420 million portfolio sale JLL is handling for LaSalle Investment Management, also on behalf of Santander Pension Fund.
It is understood that best bids have now been called on the mixed-use portfolio of principally long-income real estate assets in the UK.
It includes a Premier Inn near Wembley, a private hospital in Edinburgh, a warehouse occupied by Evri in Warrington, two student accommodation assets in London and Birmingham, and a London industrial property.