Real Estate investor Dunedin Property has bought a Gloucestershire office block for £1.8m from the joint fixed-charge receivers.
The deal for the 27,000 sq ft scheme, Pate Court, at St Margaret’s Road in Cheltenham, reflects a 12.6% yield.
The multilet office investment comprises nine office buildings and forms part of a larger portfolio.
Rosalind Goode and Roland Morgan, LPA receivers at GVA, were appointed by Hatfield Philips International in its capacity as special servicer.
Hamilton Investment Properties advised Dunedin; GVA acted for the LPA receivers.
bridget.oconnell@estatesgazette.com
To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.
