LaSalle Investment Management has bought the Langley Quay office park in Langley, Slough for £14.2m from Royal London.
The price reflects a net initial yield of 6.67%.
The Langley Quay business park comprises four office buildings arranged as seven units, extending to 49,697 sq ft and let on eight occupational leases.
The average weighted unexpired term equates to 4.5 years, and the passing rent of £994,564 pa reflects £20.01 per sq ft overall.
Jones Lang LaSalle acted for the purchaser and Knight Frank acted for the vendor.
References: EGi News 25/09/06
