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LONDON -Topland Group has bought a high-specification office investment on the Surrey Research Park in Guildford, Surrey, for £13.35 million ($19.65 million). Situated south-west of London and developed in 1989, the property provides 46,000 sf of offices together with 262 on-site car spaces.

Syngenta has just leased the entire building for 15 years at an annual rent of £1.125 million ($1.65 million), reflecting just less than £25 ($36.80) per sf. This implies a net initial yield of 8%.

Topland Chairman and Chief Executive Sol Zakay said: ‘This is another high quality property in an excellent location with great prospects for rental growth. Catella Property Consultants advised Topland and Knight Frank advised the vendor.

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