Pinehurst Park provides 61,094 sf of offices on two floors abovetwo levels of decked parking fronted by a four storey refurbishedperiod building. It was developed by Miller Developments in 1991and let to Thorn High Street Properties on a lease expiring in July2016 at a rent of £1.22 million ($1.7 million) per annum with arent review due in July this year. Subsequently it was sub-let forthe full term to IBM UK.

Bryan Thompson, Investment Director at Miller Developmentscommented: 'We were pleased to conclude this strategic disposal toMorley in a short timescale. This allows us to concentrate onreinvesting our equity in the short term and we are currentlyassessing several opportunities in the market, in particularportfolios.'

Morley Properties, which bought the property on behalf ofNorwich Property Trust, was advised by Morgan Loggie and WeatherallGreen & Smith. Healey & Baker acted for the vendor.

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