Kingsoak Limited exchanged a contract to acquire Great Brighams Mead office building in Reading from McKay Securities Plc (LSE:MCKS) for £19 million on February 2, 2022. The current rent passing of Great Brighams Mead office building is £2.28 million. Completion of the transaction is conditional on delivering vacant possession and is anticipated in April, 2022. The proceeds will initially be used to reduce borrowings, prior to reinvestment in value add opportunities including acquisitions, development and asset management initiatives. Savills represented McKay Securities and BNP Paribas SA (ENXTPA:BNP) acted as financial advisor to Kingsoak.

Kingsoak Limited completed the acquisition of Great Brighams Mead office building in Reading from McKay Securities Plc (LSE:MCKS) on May 5, 2022.