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Private Buyers Target Ailing M4 Market

LONDON-An overseas investor advised by Stratreal has bought Morley Fund Management and Redrow Commercial's 120,000-sf Windsor Office Park in a move that will underpin confidence in the troubled M4 office sector.

By Graham Parker | Updated on June 17, 2002

LONDON-An overseas private investor advised by Stratreal has paid £59.25 million ($87 million) for Morley Fund Management and Redrow Commercial Developments’ 121,320-sf Windsor Office Park in Windsor, Berkshire. The purchase price reflects a yield of 6.3%.

The property is made up of two adjoining air-conditioned office buildings, completed last year, and let on individual leases to GB Gas Holdings, a subsidiary of Centrica, with 16 years unexpired.

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