- What Monster has bought its own headquarters in Uxbridge
- Why It has already committed £1.3m to a fit out
- What next The company’s market share of the drinks market is expected to expand
Vantage Asset Management has agreed a sale of The Gate in Uxbridge, React News can reveal.
It is understood that Monster Energy has acquired its own headquarters, which had been marketed through ACRE Capital Real Estate for £10.2m, a price reflecting a 7.75% yield.
The developer had recently undertaken a £2.8m refurbishment of the property on Cowley Business Park and a 10-year lease was put in place with Monster last October with a five-year break clause. The 33,178 sq ft, three-storey building had been generating rent of £842,488 per annum or £25.39 per sq ft.
Monster is committed to the building having undertaken a £1.3m fit-out. Unlike many corporates which have had to undertake sale-and-leasebacks to generate cash in pressing times as a result of the pandemic, Monster is in a position to take advantage of any softening in the market.
The energy drink firm is eating up market share. It became the largest energy drinks producer in the US in 2018 with 43% of the market in a year that saw it turnover £92.8m and generate profits of almost £8.5m.