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ABF Fund Buys Cambridge Offices

LONDON-The Associated British Foods pension fund has bought Francis House, a 35,348 sf office building in Hills Road, Cambridge from Prudential to show a net initial yield of 6%

By Graham Parker | Updated on July 13, 2001

LONDON-The Associated British Foods pension fund has bought the freehold of Francis House, 112 Hills Road, Cambridge from Prudential for £9.455 million ($13.33 million), representing an initial net yield of 6%.

Francis House is a 35,348 sf office building, let to the law firm Mills & Reeve, at current rent of £600,000 ($846,000) per annum, subject to rent reviews in March 2004 and 2009.

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