Northwood has purchased Vanbrugh and Jellicoe House on Botleigh Grange business park in Southampton from Aberdeen Asset Management for £9m – reflecting a net initial yield of 9%.
The two multi-let buildings comprise a total of 53,512 sq ft of office accommodation, with a passing rent of £858,795 pa, and weighted term certain of approximately two years.
Knight Frank acted for Aberdeen Asset Management. Hughes Ellard acted for Northwood.
