Stoke-on-Trent Regeneration, the joint venture vehicle formed by St Modwen Properties and Stoke council, has sold the new Royal Doulton HQ and factory shop investment at Etruria Valley, Festival Park, Stoke-on-Trent, for £3.75m.
The sale to Claremont Property Holdings reflects an initial yield of 9%.
The purpose-built premises, comprising 2,555 sq m (27,500 sq ft) two-storey offices and 930 sq m (10,009 sq ft) factory shop, have been let to Royal Doulton on a 20-year lease at a starting rent of just under £360,000 pa.
Insignia Richard Ellis acted for the vendor while Hargreaves Proctor represented the purchaser.
EGi News 16/10/01
