Bourne House, The Causeway, Staines
Price: £8,375,000 - Initial Yield:9.21%
Date: Q1 2011
On behalf of Greater Manchester Pension Fund we advised on the sale of this office investment to Standard Life Investments for £8.375m, reflecting a net initial yield of 9.21%.
The property comprises an ‘L’ shaped building offering flexible open plan office accommodation arranged over ground and first floors. Let to UB Group Ltd expiring 24th March 2016 at a current rent of £816,000, although the tenant is not in occupation. The ground floor is sub-let to Cognos Ltd until March 2016 for a passing rent of £254,342 p.a.
Contact
John Ellison
Tel:
020 7493 3330
Mob:
07889 437 236
jellison@lewisellis.co.uk
Matthew Brown
Tel:
020 7493 3330
Mob:
07836 724 420
mbrown@lewisellis.co.uk
