Press

HDG Mansur acquires IBM building in Farnborough

21 October 2005

HDG Mansur has acquired Meudon House an 80,000 sq ft office building in Farnborough, on behalf of a private client. The building is IBM's regional office and was acquired from The Crown Estate in a deal worth more than £24 million.

Meudon House is situated within a 5.2 acre landscaped site, lending opportunity for further development within the site in the future. The tenant IBM has a lease for a further eleven years and will continue to occupy the building, which is used for work supporting the aerospace industry.

This acquisition follows HDG Mansur's strategy for growth in the European market, seeking quality leased office and distribution buildings with added value potential in the future.

Chairman and CEO of HDG Mansur, Harold D. Garrison said: "This acquisition was an attractive proposition for our client – taking into consideration the strong covenant of the current tenant and room for growth within the site. Hampshire forms part of an established regional office market, with access to a well-skilled labour force and proximity to London. HDG Mansur is actively pursuing other similar opportunities."

In the last 12 months, HDG Mansur has advised its clients in the acquisition of global properties in excess of £740 million. HDG Mansur continues to seek attractive property acquisition opportunities in North America and in Europe.

Editors Notes:

HDG Mansur is an international real estate industry leader specialising in wealth
management advisory services for high net-worth individuals and select institutions
worldwide. HDG Mansur has more than twenty years experience in international
property with specialist knowledge of large-scale master-planned and mixed-use
projects. It is particularly experienced in advising developing and managing £3 billion in
real estate investments on behalf of private global clients with properties in the United
States Canada United Kingdom Europe and Southeast Asia. HDG Mansur has offices
in London New York and Indianapolis.

For further information please contact Clare Slack at ADC Blueprint on 020 7349 6280
or ksmith@adcblueprint.com

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