The office building is let to Thames Valley University for sevenyears at a rent of £20 ($31) per sf. The price paid by thepurchaser, a client of Credit Suisse Property InvestmentManagement, represents a net initial yield of 8.3%.

Halladale Property Director Ken Lindsay said: "This is a primeexample of Halladale's strategy of delivering value through activeasset management, turning this office building into aninstitutional grade investment. The sale completes the assetmanagement strategy for this property and follows successful leaserenewal negotiations with the tenant. We look forward to workingalongside LaSalle Investment Management on the remaining propertiesin this innovative project."

The purchaser was represented by Makins Moore while SingerVeille acted for Halladale and LaSalle Investment Management.

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