LONDON-Beech Investments has paid £5.8 million ($9.9 million) for Biwater House, Station Approach, Dorking, Surrey. The price paid for the long leasehold office investment reflects a net initial yield of 7.8%.

The 28,067-sf building was constructed in the early 1980s and is let to construction group Biwater for a further 19 years at a passing rent of £19.60 ($33) per sf.

King Sturge acted on behalf of Beech Investments and Tudor Toone acted for the vendors, a client of PRICOA Property Investment Management.

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