Frasers Property has put a £81.4 million price tag on Cisco's flagship UK office near Heathrow shortly after the latter made a long-term commitment to the West London site.
The Singaporean investor-developer has mandated CBRE to find a buyer for the 271,725-square-foot scheme, where the US tech business signed a 10-year renewal in October.
As part of the deal Cisco and Frasers Property agreed to co-invest in "significant building and landscaping upgrades" to deliver a "future-ready, sustainable workplace that reinforces Lakeshore’s position as a strategic, innovation-led business hub".
Frasers Property's quoting price reflects a 12% net initial yield or a capital value of £300 per square foot for Lakeshore. The scheme generates an annual rent of £10.4 million, reflecting £38.54 per square foot.
Cisco staff are spread across three separate offices, Buildings 9-11, at Lakeshore, measuring 128,488 square feet, 81,801 square feet and 60,864 square feet respectively. The 11.9-acre site has been the firm's UK headquarters for more than a quarter of a century.
There was a time when the US tech business was considering its long-term future at the park, with CoStar News revealing in 2023 that Cisco had appointed JLL to evaluate its South East footprint. But October's deal ended that hunt.
The landlord is now looking to offload the asset that it acquired from Evans Randall for £135 million in 2020. Agents appointed at the scheme have also highlighted the site's alternative use potential for industrial redevelopment, which could comprise circa 220,000 square feet of warehouses.
Frasers Property and CBRE declined to comment.