WORKING from home may be in vogue at the moment, but the need for office space is still there as the sale of a landmark office building in Basildon shows.

Janus House is on the Festival Leisure Park has been sold at auction for £27.8 million in a transaction between investors.

The office building provides 116,989 sq ft of Grade A office accommodation over ground and two upper floors and sits on a 6.38 acre site. It is let in its entirety to technology firm FDR Limited until 31 August 2029.

James Vivian, Director in the UK investment team at Savills, says: "We are delighted to have completed the sale of Janus House on behalf of Maya Capital, who we've worked closely with from purchase, through the break and rent review and now the successful sale.

"Good quality long income assets are still being sought after by investors, particularly overseas investors who have been especially active."

David Pralong, Founder and Managing Partner at Maya Capital, adds: "This sale represents another successful exit in line with our regional office strategy.

"We remain keenly focused on the UK regions where we continue to see substantial investment opportunity through a combination of high yields and low market vacancy rates relative to London. We expect to invest in further high-quality assets in the coming months."