ISIS Property originally acquired the property in February 2001 from Merrill Lynch Property Fund for £22 million ($36 million) .It is let to Esso Exploration and Production at £2.065 million ($3.4 million) per annum on a lease with 13.75 years remaining.
Ian McBryde of ISIS Property said: "Investor demand for properties in Victoria with long income streams and strong tenant covenants is high and we are taking advantage of this disposal opportunity to reap the benefits of the recent favourable rent review settlement."
ISIS Property, advised by Strutt & Parker, acted for Friends Provident Life & Pension, while Insignia Richard Ellis acted for the purchaser.
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