The three multi-let office buildings constructed in the 1960s comprise the Gate House providing 18,409 sf of retail space and 29,309 sf of offices; Westgate House providing 6,500 sf of retail space and 36,968 sf of offices and Northgate House providing 7,198 sf of offices.
The properties are let on 40 leases with the office element accounting for 50% of the income. The total income is £775,000 which shows an overall net yield of 11.9%.
Singer Vielle acted for of the purchaser.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.