Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Danmerc Property Management, on behalf of Britannia Invest II BV has sold Castle and Pedmore Houses on the Waterfront East business park at Merry Hill in Dudley, West Midlands to a private Irish investor for £13.475 million ($21 million) showing a 7.14% initial yield.

The property, built in 1991, provides 87,235 sf of offices let to the UK government on two leases expiring in September 2016 at a current rent equating to £11.75 ($18)per sf.

King Sturge and Millar Kitching represented Danmerc while CB Hillier Parker and CB Hamilton Osborne King represented the purchaser.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.