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LONDON-Catalyst Capital has sold a freehold office and retail investment in Harlow, Essex, to the Kenmore Group for £6 million ($8.7 million) showing an initial yield of 11.9%.

The three multi-let office buildings constructed in the 1960s comprise the Gate House providing 18,409 sf of retail space and 29,309 sf of offices; Westgate House providing 6,500 sf of retail space and 36,968 sf of offices and Northgate House providing 7,198 sf of offices.

The properties are let on 40 leases with the office element accounting for 50% of the income. The total income is £775,000 which shows an overall net yield of 11.9%.

Singer Vielle acted for of the purchaser.

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