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Scarborough group has sold Admiral's new head office in Newport to US real estate investment trust W.P. The new HQ of motor to house insurance group Admiral in Newport has been sold in a £20m. The recently completed building, which will be officially opened next month, has been acquired by leading global real estate investment trust W. The 83,000 sq ft office building, which is let to the FTSE 100 company on a 20 year lease, is part of Scarborough Group Internationala€™s redevelopment of the former Cambrian Centre opposite the newly developed railway station. Cooke and Arkwright acted as joint agents with CBRE on behalf of Scarborough Group on the transaction, while Knight Frank acted on behalf of W. Mark Jackson director of Scarborough Group International said: a€?We are pleased to complete this transaction with W P Carey.

Graham Davies of Cooke and Arkwright, said: a€?This investment opportunity attracted substantial funds which have been actively looking to the regions after years of concentrating on the London-centric south-east. Admiral House in Newport is part of a major redevelopment of the surrounding area which has already attracted £230m of private investments into the city.
Other developments currently under way in Newport include the 389,976 sq ft Friars Walk retail and leisure scheme in the heart of the city and the planned £60m Wales International Convention Centre at the Celtic Manor Resort. Subject to planning consent work on the convention centre could start next year with a completion of date 2018.
Admiral employs 5,500  in Cardiff, Newport and Swansea, with a global workforce of more than 7,000. Neither the service provider nor the domain owner maintain any relationship with the advertisers. As a customer, you will enjoy our suite of customer service forms all from your local agent. Carrying the right amount of coverage is essential to protecting your family and belongings.

We have relationships with dozens of insurance companies, allowing you to get the right price with the right service. In case of trademark issues please contact the domain owner directly (contact information can be found in whois). Whether you have the ideal history, preferred companies desire, or a not so perfect history, we find the right coverage, with the best company, at the best price for you. Carey said: a€?The transaction with Scarborough Group is consistent with our investment strategy of acquiring critical assets leased on a long-term basis to strong credit tenants and demonstrates our ability to provide liquidity to developers and owners of attractive net-leased assets. Make the latest changes to your policy directly from our website twenty-four hours a day, seven days a week.

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05.02.2014 admin

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