LONDON-Metric Property Investments has exchanged contracts to acquire the old Royal Mail building situated on Berkhamsted High Street from Royal Mail Group. The company has acquired the 0.9-acre site and will spend an additional GBP 5.0 million to redevelop the property into a new retail building.
Together with the deal, Metric has pre-leased approximately 80% of the property to Marks & Spencer on a 20-year deal. Metric was advised by Savills and Royal Mail Group was advised by Lambert Smith Hampton in the deal. For the full story, go to PropertyMall .
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