DTZ Investment Management has sold Lucidus, 41-43 Clarendon Road, Watford to the British Steel Pension Fund.
The 51,246 sq ft grade-A office building was on the market for £13.78m, reflecting a yield of 7.5%.
The multi-let building extends over ground and four upper floors.
DTZ senior director David Haynes said: “This transaction demonstrates the continued depth of demand for prime opportunities in the investment market.”
Robert Smith at John Arkwright & Company said: “We are delighted to have secured one of the best South East offices for British Steel Pension Fund, which has both strong asset management opportunities and potential for future rental growth.”
DTZ acted for DTZ Investment Management. John Arkwright & Company acted for British Steel Pension Fund.
jack.sidders@estatesgazette.com
