Allied London Properties has sold Elstree Tower in Borehamwood, Hertfordshire, for £23m to an overseas investor. The price reflects a yield of 8.4%.
In a separate deal, Allied London Industrial Properties has bought the Yewtree Trading Estate in Haydock, Merseyside, for £ from Hermes Property Asset Managment. Once the Yewtree site is fully rented it is expected to double in value. Allied intends to invest about £1.5m in Yewtree which will be refurbished and renamed.
- Financial Times 04/09/96 page 27
