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Hermes Sells Berkshire Office Investment

Fund manager hermes has sold a 60,000-sf multilet office scheme in the Home Counties west of London at a yield of more than 9%

By Charlie Jacoby | Updated on October 11, 2001

Good Harvest Group has bought a multilet office village in Thatcham, Berkshire, from Hermes, the fund manager responsible for the Post Office and BT pension funds. Thatcham Business Village comprises an attractively landscaped, two-storey, courtyard offices scheme providing 20 self-contained office units in four blocks totalling approximately 61,699 sf.

Tenants include Genesys Conferencing, Global Crossing, the Cessna Aircraft Company and Cyrano (UK). The passing rents range from £10.01 ($14.70) to £15.20 ($22.30) per sf.GHG paid £8,025,000 ($11.8 million), which shows a net initial yield of 9.05%.

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