Creston Land & Estates has paid £4.175m – reflecting a 9% net initial yield – for the freehold interest in Brighouse Court, Barnwood, Gloucester.
Tenants of the 3,325 sq m (35,791 sq ft) office investment include Ladbrokes, American Express, Endsleigh Insurance Services Ltd and Securicor. The development produces £402,279.02 pa.
Smith Melzack acted on behalf of the receivers.
EGi News 27/01/97
