Maple Grove Developments, part of the Eric Wright Group, has presold its 32,000 sq ft office building at Blackburn Cathedral Quarter to Legal & General Property for £9.1m, reflecting a yield of 4.6%, a record for the city.
The office building, One Cathedral Square, is let to Blackburn with Darwen borough council on a 25-year head lease.
The council will let the offices to businesses looking for grade A space.
Agents for the development are Knight Frank and Trevor Dawson & Co.
The office block forms part of a wider first phase at the Cathedral Quarter (pictured) comprising a Premier Inn, restaurants and cathedral accommodation arranged around a new public square and transport interchange.
The project, which is scheduled to complete in autumn 2015, received assistance from Lancashire LEP, HCA, Blackburn with Darwen borough council and the European Regional Development Fund.
