The property provides approximately 15,959 sf of offices over ground, first and second floors and is let to Datasolve, a subsidiary of Thorn EMI, until March 2008. The lease has been assigned to IBM United Kingdom. In addition 476 sf of ground floor space has been sold to a local law firm on a long lease.
The total current annual income is £246,300 ($362,000) which at £15.43 ($21) per sf overall is reversionary. The purchase price of £3.0 million ($4.4 million) reflects a net initial yield of 7.76%.Strutt & Parker advised Kenmore and Jones Lang LaSalle represented Rankvale.
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