Burford Delta has sold the Grade II listed offices Lee House and Churchgate House in Manchester to CBRE Investors’ Strategic Partners Fund for £45.85m, a 6.8% initial yield.
The seven-storey Lee House has been sold with consent for 10 more floors totalling 88,850 sq ft, including 79 flats and 21,000 sq ft of offices.
Combined, the interlinked buildings comprise 246,250 sq ft of multilet offices, producing £3.3m pa.
Franc Warwick advised Burford. King Sturge acted for CBRE Investors.
References: EGi News 26/09/05
