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LONDON-Evans Property group, the Leeds-based investor and developer has sold the freehold of Global Court, an 85,145-sf office development at Millshaw in Leeds, West Yorkshire. The purchaser, a private investor, paid an undisclosed sum for the property. The quoting price was £17.5 million ($28.75 million) which provided a net initial yield of 6.74%.

The three-storey office building is let to Barclays Bank for a further 16 years at a rent of £1,248,000 ($2 million) per annum. Jones Lang LaSalle represented the vendor. Storey Sons & Parker and Property Direct International represented the purchaser.

Justin Garnett, Associate Director at Jones Lang LaSalle said: “The considerable interest we received in this property from a diverse mix of investors and ultimately the successful sale, again demonstrates the strength of the Leeds investment market.”

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