West Midlands Office Investment Sold to Irish Investor

LONDON-A private Irish investor has paid Pounds 13.475 million ($21 million) for 87,000 sf of offices at Merry Hill in Dudley, West Midlands. The two buildings are both let to the UK government and the sale reflects a 7.14% yield.

By Graham Parker | July 15, 2002 at 01:01 AM

The property, built in 1991, provides 87,235 sf of offices let to the UK government on two leases expiring in September 2016 at a current rent equating to £11.75 ($18)per sf.

King Sturge and Millar Kitching represented Danmerc while CB Hillier Parker and CB Hamilton Osborne King represented the purchaser.

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