PROPERTY firm The RO has completed a £5.2m purchase of a Southampton office building.

It has acquired 1 Dorset Street from Aberdeen Standard Investments.

This is the third major acquisition the RO has made in Southampton, bringing its total investment in the City to over £16 million, following the purchase last year of Waterside Place at Town Quay for £7.6 million; and West Park House bought from Lanyon Quay Ltd for £4 million in April.

All acquisitions were made through the RO’s wholly-owned subsidiary RO Real Estate, which acquires and develops commercial property assets on behalf of the group.

Number 1 Dorset Street was built in 2006 and is home to Santander and Michel Page

RO says it intends to refurbish the ground, first and second floors over the coming months, which were recently vacated by Grant Thornton.

The RO were advised by Acre Capital Real Estate who managed to secure the property off market.

David Kershaw, general manager, RO Real Estate said: “Southampton shows a high demand for well-located, high quality office space coupled with very low availability and the RO hopes that this property will fill the gap in this important shortage of high-end office space. We will be improving the vacant space within this modern building and look forward to welcoming new tenants to this prominent and desirable location.”

The Dorset Street deal brings Ro’s total of sales and acquisitions to in excess of £60 million over the last 15 months.