The units, constructed in the late 1980s, total 96,844 sf, have been let to Ernst & Young; Siemens and Scholl Products with approximately 12 years unexpired on the leases. The purchase price reflects a net initial yield of 8.22%, with a total rent of £1,677,500 ($2.65 million) per annum.
Cluttons advised the purchaser. Partner Andrew Whitehouse said: "Representing a secure medium-term investment, the property offers substantial capital growth and the initial yield of just under eight and a quarter percent contrasts very favourably with the typical yields at the same time last year.
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