The property is let to Nuance Global Traders on a 25-year lease from March 1987, at a passing rent of £345,000 ($500,000) per annum. The March 2002 rent review is yet to be settled.
Savills Fund Management acted on behalf of The Charities Property Fund and CB Hillier Parker represented the vendor. According to FPDSavills the Charities Property Fund is the only pooled investment vehicle for charities that enables all charities to invest in commercial property. As a charity in its own right, it is exempt from stamp duty as well as capital gains and income tax.
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