OFFICE INVESTMENT ACQUISITION
MODERN OFFICE INVESTMENT ACQUIRED FOR PRIVATE CLIENT
Acting on behalf of a private client, Tim Harries & Partners introduced and negotiated the purchase of a modern, well-let M1 corridor office investment
The pair of semi-detached offices, located on The Village Business Park just off Junction 28 M1, are of Grade A specification with air-conditioning and let to the established UK subsidiary of the German Kaefer Group on leases with in excess of 9 years term certain unexpired.
The purchase price represented a net yield of about 8.5% with guaranteed rental uplifts set to boost the net yield to just under 10%.
This purchase represented the third investment which Tim harries & Partners have acquired for the this client, and all of which they have subsequently been retained to manage.