The buyer, a private client of BBS, has purchased a 170,320 sq ft (13,000 m2) office portfolio in Brentford, West London, from Columbia Threadneedle Investments, for £48 mln.

A vast majority of the portfolio (140,248 sq ft) has consent for change of use into 268 studios and one and two bed residential apartments.
 
The portfolio includes New Horizons Court, a 140,248 sq ft office campus spread across four buildings, including Sky’s former HQ, as well as three additional office buildings known as The Courtyard Buildings, providing a further 30,072 sq ft of space.

Conversion of the properties is expected to begin immediately.

BBS Capital arranged the acquisition facility with Octopus Property at a loan to value of 65%.
 
Westley Richards, of BBS Capital commented: 'We had only two weeks to arrange this facility, and are delighted to have successfully enabled our client secure this exciting opportunity. This deal takes our total loans financed with Octopus to over £100 mln in 2017 alone.'

Recent deals financed by London-based BBS include an acquisition loan for WeWork’s Fox Court building in Grays Inn Road that was acquired in March 2017 by a private client for over £100 mln.
 
Mario Berti, CEO of Octopus Property, added: 'This facility represents the largest of its kind we have done this year, reflecting both the robustness of market and our position as the first choice lender for real estate professionals seeking fast and flexible financing.'
 
Savills acted for Columbia Threadneedle Investments and Finn & Co advised the buyer. Howard Kennedy acted on behalf of Octopus Property.