Arlington Property Investors has bought a 14,625 sq ft office building at Lowfields Business Park, Halifax, from PPG Land for £3.1m, reflecting a net initial yield of 6.77%.
The three storey property is let to Heywood Williams, BRS and the Co-operative Insurance Society.
The 1.2m sq ft Lowfields Business Park is close to junction 24 of the M62.
It was developed on brownfield land by Commercial Development Projects from 1996.
Keith Lown Jones Lang LaSalle’s Leeds investment team said, “This transaction demonstrates the continuing strong appetite from UK Institutions for modern, multi-let office buildings and the buoyancy of West Yorkshire’s property market.”
Arlington Property Investors was advised by Jones Lang LaSalle. PPG Land was advised by Walker Singleton of Halifax.
References: EGi News 15/05/06
