CLS has sold the Vista Centre, a102,345 sq ft office complex in Heathrow, to Vista Property Investments for £12.775m.
The deal represents an initial yield of 7.4%.
Tenants at the 5.5-acre site include The Metropolitan Police, Airline Business and a business centre.
CLS bought the property in 1995 for £10.8m when the entire building was let to Hoechst.
In 1999 the tenant paid £8m to be released from its lease and the building was refurbished and the leisure facilities added.
The sale represents a 5.3% discount to the June 2007 valuation.
MBH and Vail Williams acted on behalf of CLS and Smith Melzack Pepper Angliss acted for the purchaser.
Executive chairman of CLS, Sten Mortstedt, said: “We are pleased to have completed the sale of Vista having added value through the introduction of leisure facilities and having secured the Metropolitan Police as a tenant.”
paul.norman@egi.co.uk
