MAIDENHEAD, England – August 14, 2023 – Soor Capital completed the acquisition of the Techtronic Industries European HQ located at 22 Market Street in Maidenhead, England. The 22,586 square foot Grade A office and retail complex serves as the European headquarters for Techtronic Industries EMEA Limited, a division of global power tool leader Techtronic Industries Company Limited.
Strategic Asset Acquisition
The acquired property represents a freehold interest in a Grade A office building arranged over ground and two upper floors with two adjoining retail units in Maidenhead town center. The property is 95% leased to Techtronic Industries EMEA Limited, which occupies the building as their European headquarters, with the remaining 5% let to retail tenants on short-term leases.
The office component totaling 21,519 square feet is 100% leased to Techtronic on a full repairing and insuring basis for a remaining term of 11 years with no termination options. The property benefits from an EPC rating of B following a significant £2.3 million refurbishment in 2020, plus an additional tenant fit-out investment exceeding £1 million.
Exceptional Tenant Profile
Techtronic Industries EMEA Limited is the European division of Techtronic Industries Company Limited, a global leader in power tools, outdoor power equipment, and floor care appliances. The company is known for iconic brands including Milwaukee, RYOBI, AEG, RIDGID, and Hoover, serving professional and consumer markets worldwide. TTI has established itself as a technology-driven manufacturer with strong innovation capabilities and global distribution networks.
"This acquisition represents a strategic investment with one of the world's leading power tool manufacturers," said a spokesperson for Soor Capital. "Techtronic's commitment to these facilities as their European headquarters, combined with the property's excellent location and specifications, creates an exceptional long-term investment opportunity."
Investment Highlights
The property offers compelling investment characteristics including:
- 95% occupied with anchor tenant Techtronic Industries on long-term FRI lease
- Mission-critical facilities housing Techtronic's European headquarters operations
- World-class tenant with strong operational and financial performance globally
- Strategic Thames Valley location in one of the UK's premier commercial corridors
- Modern specifications with EPC rating B following comprehensive refurbishment
- Stable cash flow profile with 5-yearly upward-only open market rent reviews
Market Position
Located in the heart of Maidenhead town center, the property benefits from its position in one of the Thames Valley's most strategic commercial locations. Maidenhead is an affluent Berkshire market town located 30 miles west of Central London and 14 miles east of Reading, with a population of 70,000 people. The town is regarded as one of the principal commercial hubs in the Thames Valley due to its strategic position in the heart of the M4 corridor.
The area benefits from excellent transport infrastructure, with the Elizabeth Line directly connecting Maidenhead with Central London and Heathrow Airport. This connectivity has helped attract major firms from technology, pharmaceutical, and advanced manufacturing sectors, including Adobe Systems, GlaxoSmithKline, Johnson & Johnson, and Maersk.
About Soor Capital
Soor Capital is a private equity real estate firm offering comprehensive investment services across the USA, UK, Europe, and GCC regions. The firm specializes in acquiring institutional-quality real estate assets with superior tenant profiles and strategic market locations. Since its establishment, Soor has transacted over £500 million of private equity real estate investments.
