BBC Pension Trust has paid Turnstone Estates and Southern & City £9.65m for the freehold of 48/52 Hersham Road, in Walton-on-Thames, Surrey. The sale price reflects an initial yield of 7.1%
KBC Process Technology has taken a 17.5-year lease on the 2,601 sq m (28,000 sq ft) building, which has been prelet at a starting rent of £279 per sq m (£26 per sq ft). Completion is due in April 2001.
Knight Frank advised BBC Pension Trust, while Turnstone Estates and Southern & City were advised by FPDSavills and Croft Davidson.
EGi News 15/11/00
