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Morley Fund Management Sells Leatherhead Office Investment

LONDON-Morley Properties, has sold the freehold of Cedar Court, a 21,000-sf office building in Leatherhead, Surrey, to St. John's College, Cambridge, for over Pounds 7 million ($10 million).

By Graham Parker | Updated on May 29, 2002

LONDON-Morley Properties has sold Cedar Court, a 21,000-sf office building in leatherhead, Surrey, to St. John’s College, Cambridge for £7.279 million ($11.2 million). The two-storey building, located near Leatherhead town centre, is currently leased to Petrochem Carless and East Surrey Area Health Authority on 16-year leases at a combined rent of £508,913 ($738,000) per annum.

Morley bought the site__originally a furniture depository–in the mid 1990′s and won planning permission for the office redevelopment .

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