World Business Centre 4, Heathrow - September 2017

18 September 2017

Arora Group completes sale of WBC4, Heathrow's newest stand-alone office development

·         Sale of WBC4, the newest and the largest office development within London Heathrow's World Business Centre Estate

·         Grove Developments, the Group's construction division, led the development

·         WBC4 entails 85,000sq ft of CAT A office space, and a total area of 145,000 sqft.

·         The site will include 161 car parking spaces, numerous cycle spaces and electric car charging points

The Arora Group ("Arora" or the "Group") is pleased to announce that it has exchanged contracts for the sale of WBC4, London Heathrow, to the local authority, Spelthorne Borough Council, for £47.25 million which is the first new stand-alone office building to be developed in the London Heathrow Airport area in a decade.

This transaction further strengthens the Group's capability as an end to end real estate player delivering sound long-term value from inception, construction and partnering with the end user.

Surinder Arora, Founder and Chairman of the Arora Group said:

"We have a long history of engagement in Heathrow Airport's World Business Centre estate and it is hugely satisfying to see WBC4 through from inception to development and sale. The disposal reflects our strategy to strengthen our portfolio by focusing on assets where we have identified the optimum fit for leveraging our Group capabilities, with the development showcasing the skill and dedication of our Grove Developments team."

Cllr Ian Harvey, leader of Spelthorne Borough Council, commented:

"The acquisition of WBC4 forms part of our ongoing strategy to mitigate the withdrawal of Government funding for local authorities. As the newest stand-alone office development in the prime Heathrow area, we are delighted with this investment and the income it will generate, to support services for residents in our borough. Arora Group's Grove Developments team has been a pleasure to deal with, ensuring the development's construction is in line with the requirements of the incoming secured tenant, Amadeus."