CGIS paid £14.04 million ($20.5 million) for the investment, which includes a bar let to SFI. The building is fully let to a variety of mainly office tenants and the price paid represented a net initial yield of 7.42%.
King Sturge acted for CGIS. Morley, the vendor, was represented by ATIS Real Weatheralls.
Also in Leeds, King Sturge let the 5,348-sf fourth floor of Park Row House, Park Row, for Credit Suisse Pooled Pensions. The space went to law firm Berrymans Lace Mawer. It's on a 10-year lease with a tenant-only break at the end of the seventh year at a rental of £89,068 ($129,932) a year. Carter & Co acted for the tenant.
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