Hermes Sells Windsor Offices to the Crown Estate

LONDON-The Crown Estate has consolidated its holdings in Windsor, Berkshire with the purchase of the 20,000-sf Chapel House from Hermes Property Asset Management to show an initial yield of 6.85%.

By Charlie Jacoby | January 07, 2002 at 01:01 AM

Chapel House extends to some 19,936 sf, and is let to Rank Hovis, with a guarantee from parent company the food conglomerate Rank Hovis McDougall until November 2015. The current rental is set at £29 ($42) per sf subject to five yearly upwards only rent reviews.

Property consultant Knight Frank acted for the Crown Estate and King Sturge represented Hermes.

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