Discovery House, Ruddington Fields Business Park, Nottingham NG11 6JW

Date: Q4 2018

Acting on behalf of Legal & General we advised on the sale of this well secured long income office investment to West Berkshire Council for £6.545m, reflecting a net initial yield of 5.50%.

The property comprises a comprehensively refurbished Grade A office measuring 25,184 sq ft (2,339.7 sq m) arranged over ground and first floor. Secure income let to Computerland UK Limited (guaranteed by Capita Plc) with an annual rent of £383,872 p.a. (£15.24 psf). Unexpired term of approximately 19.4 years and annual RPI linked uplifts with a 1% collar and 4% cap. Low site cover of approximately 17% providing potential for a further extension to the building and excellent car parking ratio of 1:206 sq ft (122 car parking spaces).

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