Threadneedle Investments has bought a 96,000 sq ft Hertfordshire office building for £17.8m.
The price paid to RO Real Estate for Hemel One on Boundary Way, Hemel Hempstead, reflects a 7.75% yield.
It is let to tenants including BP and has a rental income of £1.5m pa.
Richard Bourne, head of RO Real Estate, said: “Hemel One has been a classic RO refurbishment and asset management play. We were able to refurbish the building, retain tenants and then lease the remainder of the space on traditional and innovative, semi-serviced office solutions.”
Knight Frank advised RO Real Estate and Deloitte Real Estate acted for Threadneedle.
